HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Christie Crime Digest Vol... » Reply #26
In the discussion thread: Christie Crime Digest Volume III [View all]

Response to Laxman (Original post)

Fri May 8, 2015, 07:38 PM

26. Christie's Funneling of Pension Money....

to his high school buddy and large contributors may be coming back to haunt him. This has already come to haunt the pension system so turn around is fair play. David Sirota believes it may result in more indictments. We can only hope.

Chris Christie’s fresh humiliation: The new scandal that could finally put the kibosh on his presidential hopes

If after last week’s Bridgegate indictments you thought Chris Christie was finally done as the focus of government investigations, think again. The Republican governor’s administration in New Jersey is facing a whole new inquiry — this one involving hundreds of millions of dollars, and not just blocked-off bridge lanes.

At issue are the fees being paid by New Jersey’s beleaguered public pension system to Wall Street firms. In recent years, Christie’s officials have shifted more of the retirement savings of teachers, firefighters, police officers and other public workers into the hands of private financial firms. That has substantially increased the management fees paid by taxpayers to those firms. Indeed, while Christie says the pension system cannot afford to maintain current retirement benefits, pension fees paid to financial firms have quadrupled to $600 million a year — or $1.5 billion in total since he took office in 2010.

In recent months, details have emerged showing that Christie officials have directed lucrative pension management deals to some financial companies whose executives have made contributions to Republican groups backing Christie’s election campaigns. Additionally, Christie’s officials have admitted that they have not been fully disclosing all the fees the state has been paying to private financial firms.

Not surprisingly, this has made the trustees who oversee the state’s retirement system more than a little bit nervous — especially since the ever-higher fees have coincided with below-median returns for the state’s pension fund. So the trustees began asking questions, and when they didn’t get the answers they were looking for, they announced in April that they are launching a formal investigation of the matter.


Read the rest here: http://www.salon.com/2015/05/08/chris_christies_fresh_humiliation_the_scandal_that_could_finally_put_the_kibosh_on_his_presidential_hopes_partner/

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 155 replies Author Time Post
Laxman May 2015 OP
Laxman May 2015 #1
spanone May 2015 #2
Laxman May 2015 #3
rocktivity May 2015 #4
Cha May 2015 #5
Laxman May 2015 #6
Cha May 2015 #9
Laxman May 2015 #7
Beach Rat May 2015 #11
malaise May 2015 #8
Laxman May 2015 #10
Laxman May 2015 #12
malaise May 2015 #13
rocktivity May 2015 #14
Laxman May 2015 #15
rocktivity May 2015 #19
wheniwasincongress May 2015 #16
Laxman May 2015 #17
Laxman May 2015 #18
rocktivity May 2015 #20
Beach Rat May 2015 #36
Laxman May 2015 #21
Laxman May 2015 #22
malaise May 2015 #23
davidpdx May 2015 #24
Laxman May 2015 #25
LineReply Christie's Funneling of Pension Money....
Laxman May 2015 #26
malaise May 2015 #28
Laxman May 2015 #27
Laxman May 2015 #29
Backwoodsrider May 2015 #30
Laxman May 2015 #31
Backwoodsrider May 2015 #33
Laxman May 2015 #32
Backwoodsrider May 2015 #34
Laxman May 2015 #35
Laxman May 2015 #37
Laxman May 2015 #38
Laxman May 2015 #39
malaise May 2015 #40
Laxman May 2015 #41
malaise May 2015 #42
Scurrilous May 2015 #43
Laxman May 2015 #44
malaise May 2015 #45
Laxman May 2015 #46
rocktivity May 2015 #47
rocktivity May 2015 #50
Laxman May 2015 #48
Laxman May 2015 #49
Laxman May 2015 #51
rocktivity May 2015 #52
rocktivity May 2015 #53
malaise May 2015 #54
rocktivity Jun 2015 #55
rocktivity Jun 2015 #56
Laxman Jun 2015 #57
rocktivity Jun 2015 #58
Laxman Jun 2015 #59
rocktivity Jun 2015 #62
malaise Jun 2015 #60
winstars Jun 2015 #61
Laxman Jun 2015 #63
Laxman Jun 2015 #64
rocktivity Jun 2015 #65
Laxman Jun 2015 #66
malaise Jun 2015 #67
rocktivity Jun 2015 #68
Laxman Jun 2015 #69
Laxman Jun 2015 #70
Laxman Jun 2015 #71
rocktivity Jun 2015 #72
malaise Jun 2015 #74
Logical Jun 2015 #73
rocktivity Jun 2015 #75
Logical Jun 2015 #76
Backwoodsrider Jun 2015 #77
Laxman Jun 2015 #78
rocktivity Jun 2015 #79
rocktivity Jun 2015 #80
Laxman Jun 2015 #81
rocktivity Jun 2015 #82
rocktivity Jun 2015 #83
rocktivity Jun 2015 #84
rocktivity Jun 2015 #85
rocktivity Jul 2015 #86
rocktivity Jul 2015 #87
rocktivity Jul 2015 #88
flamingdem Jul 2015 #89
Laxman Jul 2015 #90
rocktivity Jul 2015 #91
rocktivity Jul 2015 #92
rocktivity Jul 2015 #93
Laxman Jul 2015 #94
rocktivity Jul 2015 #96
Laxman Jul 2015 #97
rocktivity Jul 2015 #95
rocktivity Aug 2015 #98
rocktivity Aug 2015 #99
rocktivity Aug 2015 #100
rocktivity Aug 2015 #101
Laxman Aug 2015 #103
rocktivity Aug 2015 #102
rocktivity Aug 2015 #104
Laxman Aug 2015 #105
Laxman Aug 2015 #106
rocktivity Aug 2015 #107
Laxman Aug 2015 #108
Laxman Aug 2015 #109
rocktivity Aug 2015 #110
rocktivity Aug 2015 #111
Laxman Sep 2015 #112
rocktivity Sep 2015 #113
malaise Sep 2015 #114
Laxman Sep 2015 #115
rocktivity Sep 2015 #116
rocktivity Sep 2015 #117
rocktivity Sep 2015 #120
Laxman Sep 2015 #118
rocktivity Sep 2015 #119
rocktivity Oct 2015 #121
Laxman Oct 2015 #122
rocktivity Oct 2015 #123
Laxman Oct 2015 #125
Laxman Oct 2015 #124
rocktivity Oct 2015 #127
Laxman Oct 2015 #126
Laxman Oct 2015 #128
rocktivity Nov 2015 #129
rocktivity Nov 2015 #130
rocktivity Nov 2015 #131
Backwoodsrider Dec 2015 #132
rocktivity Dec 2015 #133
Laxman Dec 2015 #134
Laxman Dec 2015 #135
Backwoodsrider Dec 2015 #136
rocktivity Jan 2016 #137
rocktivity Feb 2016 #138
Beacool Feb 2016 #139
Backwoodsrider Feb 2016 #140
Laxman Feb 2016 #141
Laxman Feb 2016 #142
Backwoodsrider Feb 2016 #143
rocktivity Mar 2016 #147
rocktivity Feb 2016 #144
rocktivity Mar 2016 #145
Laxman Mar 2016 #146
rocktivity Mar 2016 #148
rocktivity Mar 2016 #149
rocktivity Apr 2016 #150
rocktivity Jul 2016 #151
Laxman Jul 2016 #152
rocktivity Jul 2016 #153
rocktivity Jul 2016 #154
rocktivity Jul 2016 #155
Please login to view edit histories.