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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsChris 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/
Cracklin Charlie
(12,904 posts)malaise
(269,054 posts)Get thee to the greatest page
They're all thieves - ReTHUGs in name and nature.
no_hypocrisy
(46,122 posts)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 . . . . .
sarcasmo
(23,968 posts)TexasTowelie
(112,251 posts)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.
radical noodle
(8,003 posts)do not fully fund pensions. It's been a huge problem.
yurbud
(39,405 posts)Alliepoo
(2,221 posts)No surprise to see Kasichs name. Hes a big jerk.
not fooled
(5,801 posts)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)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)SunSeeker
(51,574 posts)The Wizard
(12,545 posts)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?
sarcasmo
(23,968 posts)ProudProgressiveNow
(6,129 posts)Cyrano
(15,041 posts)SamKnause
(13,108 posts)benld74
(9,904 posts)BOTH on this site!!!
GeoWilliam750
(2,522 posts)former9thward
(32,025 posts)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)https://talkingpointsmemo.com/news/national-enquirer-takes-a-hit-in-circulation
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Among Chathams largest investors, according to public records, is New Jerseys public pension fund. Chatham manages investment decisions for more than $300 million in pension holdings for the state.