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sarcasmo

(23,968 posts)
Sun Sep 2, 2018, 10:41 AM Sep 2018

Chris Christie belongs in prison. Using Pension money this way, Bastard.



Snip> new report by Capital and Main reveals the Ohio and New Jersey pension funds, under Republican Gov. John Kasich and former Gov. Chris Christie, poured at least $625 million into Chatham Asset Management between 2013 and 2014. The hedge fund purchased an ownership stake in AMI in the summer of 2014.







https://thinkprogress.org/new-jersey-ohio-investments-pension-fund-national-enquirer-ami-c9bd69eec8ca/
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Chris Christie belongs in prison. Using Pension money this way, Bastard. (Original Post) sarcasmo Sep 2018 OP
More attention, please! Cracklin Charlie Sep 2018 #1
Important malaise Sep 2018 #2
There's more. no_hypocrisy Sep 2018 #3
I wouldn't be shocked if one of these pensioners goes postal. sarcasmo Sep 2018 #5
I often heard the remark that state employees are second-class citizens TexasTowelie Sep 2018 #7
I believe there are a lot of states & cities who radical noodle Sep 2018 #9
Pension theft should be a felony that puts corporate execs & elected officials in prison yurbud Sep 2018 #12
No surprise Alliepoo Sep 2018 #4
Stories like this not fooled Sep 2018 #6
Yes, Yes and Yes blue-wave Sep 2018 #8
this is also why Democrats need to put daylight between themselves & GOP on dealing with Wall St. yurbud Sep 2018 #13
K & R for exposure. SunSeeker Sep 2018 #10
Christie redirected State pension funds The Wizard Sep 2018 #11
Invested pension money into AMI so David Pecker would "kill" the stories. sarcasmo Sep 2018 #16
KR NT ProudProgressiveNow Sep 2018 #14
May he spend eternity in a bridge toll booth traffic jam Cyrano Sep 2018 #15
K&R SamKnause Sep 2018 #17
This is ONLY the 2nd time I've heard of this benld74 Sep 2018 #18
The announcement of Chatham acquiring AMI GeoWilliam750 Sep 2018 #19
Real life is never that simple former9thward Sep 2018 #20
Am so very glad someone has picked up on this UpInArms Sep 2018 #21

no_hypocrisy

(46,122 posts)
3. There's more.
Sun Sep 2, 2018, 11:24 AM
Sep 2018

Christie didn't fully fund the public pensions. That means the other part of the pensioners' funds were allocated to pay other budget items, meaning the pensioners were taxed twice. Teachers, police, firefighters, EMS, municipal and state workers (e.g., construction, administration).

Then Christie wanted to not fund the pensions at all. The Legislature and the Unions halted that proposal.

Now there isn't enough money to fund all the pensions that were collectively bargained for. And Governor Phil Murphy has to come up with a way to find the money from tax revenue (new and old) to replenish the pensions.

Now this . . . . .

TexasTowelie

(112,251 posts)
7. I often heard the remark that state employees are second-class citizens
Sun Sep 2, 2018, 12:12 PM
Sep 2018

so apparently TPTB think that the employees should be taxed once as part of the first-class citizens and again for being a second-class citizen.

not fooled

(5,801 posts)
6. Stories like this
Sun Sep 2, 2018, 12:01 PM
Sep 2018

SHOULD derail kasuck's presidential ambitions.

Unfortunately, the corporate media is DESPERATE to anoint a puke they can call "moderate" and "reasonable, and kasuck looks like their chosen one, even though he is neither of those things.

blue-wave

(4,356 posts)
8. Yes, Yes and Yes
Sun Sep 2, 2018, 12:15 PM
Sep 2018

The republicons have always viewed pension funds as their personal piggy banks. It's why the pension funds are in the mess they are in. This mess was accomplished through unbridled greed, rewarding their friends and possibly by design, so that the system collapses and all that money disappears. But remember, it doesn't just "disappear." It went into somebody's pocket.

yurbud

(39,405 posts)
13. this is also why Democrats need to put daylight between themselves & GOP on dealing with Wall St.
Sun Sep 2, 2018, 12:26 PM
Sep 2018

The Wizard

(12,545 posts)
11. Christie redirected State pension funds
Sun Sep 2, 2018, 12:21 PM
Sep 2018

to fund managers connected to his brother. The connected fund managers in turn charged excessive fees for services, thus costing pensioners more than they were paying before Christie intervene on his brotrher's behalf. He also suspended the rail tunnel project and redirected dedicated federal funds to rebuild the Pulaski Skyway with labor and materials supplied by "Christie approved" contractors.
Christie approved contractors were also given preference in rebuilding after Superstorm Sandy, and Christie's wife was put in charge of distributing Sandy relief funds.
Can anyone say unclean hands?

former9thward

(32,025 posts)
20. Real life is never that simple
Sun Sep 2, 2018, 07:28 PM
Sep 2018

Governors don't control state pension funds anyplace. They are controlled by a board of trustees. In NJ there are 9 members. Two are appointed by the governor. One by the state Treasurer. Six are elected officials. Public pensions are in mess in almost every state.

https://www.nj.gov/treasury/pensions/board-meetings18.shtml

UpInArms

(51,284 posts)
21. Am so very glad someone has picked up on this
Sun Sep 2, 2018, 08:31 PM
Sep 2018
https://www.democraticunderground.com/10142147058#post9

https://talkingpointsmemo.com/news/national-enquirer-takes-a-hit-in-circulation

That creditor backstopping AMI is a New Jersey investment fund called Chatham Asset Management. Its top executive dined with Pecker and Trump at the White House last year, and the fund has both a history of Republican political donations and ties to the administration of former New Jersey Gov. Chris Christie, which awarded it hundreds of millions of dollars in state retirement funds to manage.

...

Among Chatham’s largest investors, according to public records, is New Jersey’s public pension fund. Chatham manages investment decisions for more than $300 million in pension holdings for the state.
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