The story first appeared in the International Business Times (IBT) with lots of charts under the screaming headline:
Gov. Christie Shifted Pension Cash to Wall Street, Costing New Jersey Taxpayers $3.8 Billion
Today it was picked up by AOL, Esquire, and Daily Kos all using the angle that Christie wants to take money from retirees barely scrimping by so he can give it to his Wall Street friends who then donate to political campaigns of his choosing. But is that the real story?
I predicted they would be a combination of five patsies and quislings but apparently Governor Christie could not fill out that roster so he settled on some professional people but raised the number to nine so as to assure that his original intention (having this commission rubber-stamp whatever study the Divisions of Pensions is almost done with) will play out though not through blind obeisance as originally intended but through internal bickering which this commission is certain to have plenty of. The members, per the press release:
As in Decision Days.
Today a judge will hear arguments on whether the State can skip pension payments (it can for this year anyway) and tomorrow:
Today: “no one in their right mind would say that what we did in ’11 totally fixed a problem that is in the 30-40 billion dollar range”
but they did:
Yet another hit piece on New Jersey governor-for-the-moment Chris Christie appears in the latest issue of the New Republic (Chris Christie’s entire career reeks. It’s not just the bridge) but this one is a little different in that it puts Christie’s actions in context (i.e. in New Jersey). Among the more telling excerpts from the article:
The view from the ivory tower is because of “strict fiscal oversight” in New Jersey.
No, that’s not it.