Corzine allowed political friends to profit while robbing pension system

It appears that Corzine, if not outright culpable and complicit, at the very least turned a blind eye as the same vultures that got fat on the rotting remains of Wall  Street feasted on New Jersey’s deeply troubled pension system.

“Every effort I have made to get information about state pension investments, including the ill-advised and suspect Lehman Brothers investment, has been met with resistance, and often with belligerence,” Senator Pennacchio said. “I no longer trust any assurances given by Corzine administration officials that our pension system is safe and well managed, and neither should any state and local employee. It’s time for a full airing of how our pension system has been managed on behalf of taxpayers and retirees.”

Corzine promised to fix New Jersey’s pension system, as well as the rest of this broken state. How does he do this? He invested millions upon millions of dollars in suspect companies such as “$46 million invested in Carlyle Realty V LP, $21 million in Carlyle Mezzanine Partners II, $45 million in Carlyle Mezzanine Partners LP, $32 million in Quadrangle Capital Partners II and $46 million in Intermedia Partners VII.”

Why do many of these funds have similar names? is it because they are all the same? These same firms are under investigation in New York, New Mexico and elsewhere.

It turns out the politically connected have been pocketing “fees” for losing money in the pension investments. I think that Jon conned the voters of New Jersey. he promised reform and has done everything possible to scuttle any sort of reform. He treats anyone that attempts to investigate with contempt and belligerence.

Will the voters be fooled again, this November?


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