Christie Cleared Again

This time it was an investigation into a $15 million investment of New Jersey pension funds into a firm with ties to Massachusetts Gov. Charlie Baker after Baker made a $10,000 donation to the New Jersey Republican State Committee that an audit, launched by Christie’s administration, found did not violate pay-to-play rules.

The reasoning, according to an nj.com story, went like this:

Baker was an investment management professional associated with General Catalyst, the audit determined, but with a different investment group than the one in which the state’s pension funds were invested in.

“The definition of investment management services within the policy states that it is in the provision of financial advisory or consultant services to a state pension and annuity fund. Therefore, Mr. Baker’s donation did not need to be reported and there was no violation of the policy,” according to the audit.

Which might make sense sense to anyone under orders to believe it but does not pass the guffaw test otherwise.  For example, what if some ambitious lawyer or consultant gets their partners to pony up $30,000 each election cycle to the campaigns of whichever candidates can get that lawyer or consultant a million dollars in fees annually which, though they don’t share directly with the other partners, somehow works out for all of them?

It’s been (being) done.

 

7 responses to this post.

  1. Posted by Anonymous on January 29, 2015 at 9:31 pm

    He was cleared by his appointees to the Treasury and the Division of Investments aka foxes watching the chicken coop. He has no shame but is consistent in his internal investigative processes. He hired former federal prosecutors in the NJAG’ s office so investigations are tainted/slanted in Cousin CC’ s favor. The Feds should add this to the Bridgewater investigation, just follow the money. If you are any kind of executive you are directly and indirectly connected to every aspect of the services provided by the corporation Governor Baker isn’t clean neither is CC. Does CC step down during the budget address in February. So sad. TL, Kim as acting Governor won’t institute any reforms that address the pension problem.

    Reply

    • Posted by Tough Love on January 29, 2015 at 11:03 pm

      Quoting Anon… ” So sad. TL, Kim as acting Governor won’t institute any reforms that address the pension problem.”

      While I believe there is a very small window-of-opportunity for meaningful “reforms” (which must include materiel pension formula/provision reductions for current workers), I doubt the Unions/workers will elect to do so … still thinking somewhere, somehow, someone will ride to the Plans’ rescue.

      Insatiable greed is a hard thing to overcome. The Public Sector Unions/workers have chosen poorly, and I believe you will watch your pension Plan’s assets run down to zero … all the while REFUSING to take action. Hold on tightly, you’re in for a really really bad experience.

      Reply

      • Posted by Anonymous on January 30, 2015 at 12:40 am

        TL. They do have treatments for obsessive cumplosive disorders. Look onto it

        Reply

        • Posted by Tough Love on January 30, 2015 at 12:48 am

          Are you recommending YOUR physician ?

          Reply

        • Posted by S Moderation Douglas on January 30, 2015 at 1:45 pm

          “cumplosive”

          Was that intentional, or freudian?

          Either way, you’re correct. TL needs help.

          Reply

          • Posted by Tough Love on January 30, 2015 at 2:35 pm

            CalPERS, the source of YOUR Public Sector pensions needs help …. a great deal of “assets” doesn’t cut it when your (appropriately accounted-for) liabilities are FAR greater.

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