RAY KELLY HELPS BLOOMBERG TRY TO KEEP THIEVES ON OUR PENSION BOARD!!!!!

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fordham59	RAY KELLY HELPS BLOOMBERG TRY TO KEEP THIEVES ON OUR PENSION BOARD!!!!!		Lead	[-]
Posts: 1527 04/25/09 10:46:53	Tags : bloomberg, michael, quadrangle, capitol, partners, steven, rattner According to today's Daily News, Ray Kelly who was appointed to our pension board by Mike Bloomberg, in an act of unparalled cowardice, refused to vote to stop Quadrangle Capitol partners from doing business with the fund even though they are being investigated for payoffs and corruption. Who is the co-founder of this company? None other than lifelong Bloomberg friend Steven Rattner who is also managing Bloombergs personal wealth. Despite this investigation, and despite Bloombergs call for pension reform all three of Bloombergs appointees abstained from voting against dropping Quadrangle. So let me get this straight; Bloomberg wants to save money in the pension systen by cutting the benefits of the people who it was made for and who legitimately worked for it, but he will not say a word about the corruption coming from his friends in the financial sector who has probably siphoned off millions in phoney consulting fees, and kickbacks. What a pathetic coward, and hypocrite this Bloomberg is. Pension probe prompts city board votes to cease new investments with Quadrangle Capital Partners BY Kathleen Lucadamo DAILY NEWS CITY HALL BUREAU Saturday, April 25th 2009, 4:00 AM Related News Articles Obama stands by auto czar probed in pension kickback scandal Bill Clinton's pal earned huge pension fees Cuomo seeks conduct code as pension scandal grows Bloomberg defends car czar amid pension probe Records link middlemen to pay-to-play probe of pension fund The city pension board voted Friday to stop making new investments with Quadrangle Capital Partners because the firm is being probed in a burgeoning corruption scandal. City Controller William Thompson cited charges that the private equity fund paid fees to politically connected middlemen to get multibillion dollar state and city pension investment contracts. Quadrangle co-founder Steven Rattner is a longtime friend of Mayor Bloomberg and managed the fund until leaving to become President Obama's auto industry czar. Three city pension funds - the Employees Retirement System and the ones representing teachers and police - invested $125 million with Quadrangle in 2005 and 2006. Quadrangle declined to comment on the controller's decision, which is the equivalent of a no-confidence vote. Other Quadrangle investors, who are partnered with the city in the fund, also have a vote on the investments, so there is no guarantee the firm will not get future cash. Bloomberg's three appointees to the pension board - Finance Commissioner Martha Stark, Police Commissioner Raymond Kelly and his counsel Anthony Crowell - abstained. The board has dozens of members. City Hall declined to comment on the abstentions. Quadrangle manages the mayor's personal fortune. There is no hunting like the hunting of man, and those who have hunted armed men long enough and liked it, never care for anything else thereafter. -Ernest Hemingway
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bxnarcorgr		#1	[url]	[-]
Posts: 1661 04/25/09 10:53:20	Birds of a feather..Nothing would make me happier than seeing Bloomberg having to work in a hardware store.
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Victor Laslo		#2	[url]	[-]
Posts: 332 04/25/09 10:57:48	I would like to see him working a check out at a walmart while angry customer is beratting him for his laziness.
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princecity		#3	[url]	[-]
Posts: 1703 04/25/09 11:15:47	bxnarcorgr wrote: Birds of a feather..Nothing would make me happier than seeing Bloomberg having to work in a hardware store. Bloomberg is an over-experienced TOOL. Ayers, Wright and Rezko So much for Judgement NoBama Bin Biden BUCK FARACK Smoking is safer than Liberalism I'm Princecity and I approved this rant
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cableguy		#4	[url]	[-]
Posts: 1453 04/25/09 11:51:30	bxnarcorgr wrote: Birds of a feather..Nothing would make me happier than seeing Bloomberg having to work in a hardware store. Me too. However the sad thing is you and I both know he's going to win his third term...
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Project Kid		#5	[url]	[-]
Posts: 2657 04/25/09 11:59:07	The democratic party has been selling acsess to our pension funds for years. Yet when the money runs low, somehow it's our fault? The worst part is mainstream media doesn't have the ballz to even ask the question of the midget. Wouldn't want to get yourself blackballed from ever working for Richie Rich.
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fordham59	You make a very relevant point that must be addressed	#6	[url]	[-]
Posts: 1527 04/25/09 12:35:49	Project Kid wrote: The democratic party has been selling acsess to our pension funds for years. Yet when the money runs low, somehow it's our fault? The worst part is mainstream media doesn't have the ballz to even ask the question of the midget. Wouldn't want to get yourself blackballed from ever working for Richie Rich. It's funny how when Bloomberg calls for our pensions it's a front page story, and the allegedly nuetral "editors" write big editorials that just happen to be in lockstep with what Bloomberg wants to take from us. I have yet to see a Daily News headline about corruption and stealing from the pension fund. Any story they write is buried several pages back. Todays story is on page 5, crammed next to a big picture of a child on a play horse. Now that that we have a criminal investigation into stealing from our pension by rich politicians, and financiers, Bloomberg now has nothing to say, despite having claimed his interests lie soley in the pension funds economic health. I would love for Bloomberg to come out and explain why he believes legitimately getting pension benefits is worse than stealing money from the fund? And how can Raymond Kelly look at himself in the mirror after abstaining on voting to remove this company, from doing business with his own police officers pension money. How can the police commissioner be allowed to engage in collusion with the mayor to enrich his friends???? Last Edited By: fordham59 04/25/09 12:41:01. Edited 1 time.
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RetiredMOS		#7	[url]	[-]
Posts: 206 04/25/09 13:43:09	While the Wizard Financial Mayor of NYC calls for changes in the pension rules for WORKERS, he allows the pension fund money to be used by charlatans and thieves who describe themselves as politicians and financial consultants. They found a way to make the pension money work for them and not for the pensioneer, who has paid into the system week after week, and worked for decades for a city that now castigates them. The city pension funds have been STEERED by political hacks to certain funds that pay MANAGERS for investing the pension funds. Of course they also have numerous fees that must also be paid for losing our money. There is always an asterisk that refers to fund risk and in the back of the prospectus in small light ink which is a disclaimer that this prospectus does not insure future performance. In addition the city has been using their own accounting system to report the supposed HEALTH of those funds which they then used as a factor in NOT CONTRIBUTING their full yearly share during the heady days of the last few years. So the perfect storm is approaching and the only people making money are the politicians (steerers) and money managers - yet the Financial Wizard of the city is passing the blame on the only portion of the system that has contributed each and every week so that they can retire after many decades of city service. It is the pension equivalent of "The Producers" with the Mayor at the helm and his political acolytes lining up to get a piece of the pie while ensuring that he gets in for another term. They use the daily rags to make the pensioneers the greedy bastards while they continue to collect their FEES on the back of the only people who have maintained their end of the bargain.
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fordham59		#8	[url]	[-]
Posts: 1527 04/27/09 09:09:53	RetiredMOS wrote: While the Wizard Financial Mayor of NYC calls for changes in the pension rules for WORKERS, he allows the pension fund money to be used by charlatans and thieves who describe themselves as politicians and financial consultants. They found a way to make the pension money work for them and not for the pensioneer, who has paid into the system week after week, and worked for decades for a city that now castigates them. They use the daily rags to make the pensioneers the greedy bastards while they continue to collect their FEES on the back of the only people who have maintained their end of the bargain. Where is Bloomberg now??? The fact he is silent about this is proof he's only worried about us, the people the benefit was created for, not his friends who are stealing from us!!!
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RetiredMOS		#9	[url]	[-]
Posts: 206 04/30/09 12:11:22	This is a topic that impacts each and every MOS and yet the threads on the "Best/Worst of ____" seem to generate more comments and participation. Each and everyone of us has a vested interest in this topic. Every time one of the rags prints an erroneous story, the unions should demand that the papers print the TRUTH and retract their lies, misrepresentations and slanted editorials used to demonize the pensioneer. It is the unions' job to make sure that we are represented truthfully to the public and that workers have been the only ones maintaining their end of the original bargain. The Mayor is already setting up the career civil servant to take the brunt of their criminal mismanagement and short-changing of payments to the funds when the pay-outs come due. Nero only fiddled while Rome burned - Bloomberg is allowing his financial buddies to reap millions by their mis-management of our money and he is pointing fingers at the pensioneer while he glosses over the shortchanging of the pension funds obligations for years based on their OWN ACCOUNTING system. And he makes money because he runs the financial media. If the newspapers are allowed to print their version of the truth then they are not doing their job and we are allowing it.
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