NYC Pension

IN DEPTH: * While California’s pension fund is eliminating its stake in hedge funds, the New York State and Local Retirement System is aiming to increase the percentage of its investments that can allocated to hedge funds and private equity funds, writes E.J. McMahon in NY Torch: http://goo.gl/mGzAsd

Pay to Play Pension Lawyer Wins With de Blasio and Stringer

De Blasio's top donor is pension pal(CrainsNY) Class-action lawyer Jay Eisenhofer bundles thousands, and his firm earns millions. Jay Eisenhofer, the front-running Democrat's top fundraiser, is a prominent class-action attorney whose firm specializes in representing pension funds in lucrative shareholder lawsuits against big businesses. The decisions on who represents the city's pension funds in such cases are made by the mayor's Law Department and the city comptroller. Mr. Eisenhofer has raised $15,000When Your A City Employee Crime Pays
Only the Daily News Covers the Light Sentencing Of Hevesi Pension Corruption Enabler . . .  Where is the Gray Lady, Protecting Steve Rattner?

Alan Hevesi money man in pay-to-play scandal ducks jail (NYDN) David Loglisci, who was chief investment officer for disgraced state controller, will be in the clear if stays out of trouble for 3 years. Loglisci was said to be a “direct link” to scandal ringleader Hank Morris, who was Hevesi’s chief political advisor. Morris used his access and influence to score at least $19 million in fees from companies wanting to do business with the fund.

AG: No Jail Time for Pension Crook . . . What A Joke

No Jail Time For David Loglisci, Top Investment Official In Alan Hevesi Pay-To-Play Scandal(NYDN) As chief investment officer in charge of overseeing the $140 billion pension fund, Loglisci was said to be a “direct link” to scandal ringleader Hank Morris, who was Hevesi’s chief political advisor. Morris used his access and influence to to score at least $19 million in fees from companies wanting to do business with the fund. David Loglisci, disgraced ex-state Comptroller Alan Hevesi’s former chief investment officer, was sentenced by Manhattan Supreme Court Judge Bart Stone to a conditional discharge. (In other words: No jail time). * No jail, no probation for former state pension honcho(NYP)

Loglisci was not said to have benefitted directly from the scam, though his brother, film producer Steven Loglisci, secured several hundred thousands of dollars from those involved in the scandal to help fund his poorly-received movie, “Chooch.”*Steve Rattner Still Has a "Chooch" Problem - The Village Voice Blogs(2010) *Steven Rattner nailed by Cuomo over "Chooch" - City Desk


Connected Steve Rattner Bought Himself Out of Jail and Not He is A TV Pundit

Steve Ratner Pension Mess(True News)

From Gawker:
If there's anyone who'd want to take Steve Rattner—the media-savvy financier-cum-auto-czar who is embroiled in a pay-to-play pension scandal—down a notch, it would be fearless Wall Street bulldog Eliot Spitzer, right? Wrong. MSNBC's Morning Joe had the disgraced former New York governor on this week to talk tough about all those Wall Street scoundrels and tell us how he'd be dragging them all to the Tombs by their starched collars right now if only he hadn't banged that hooker. But Spitzer dropped his Top Cop pose when Scarborough brought up Rattner, the extremely well-connected former New York Times Reporter and friend of Arthur Sulzberger Jr. whose former investment firm is under investigation by New York attorney general Andrew Cuomo for paying off middlemen in order to get state pension money.

"Every time I say Steve Rattner's name and ask why he's still working in any capacity while this investigation is going on, everybody looks down around the table," Scarborough told Spitzer. "Everybody's scared of him. And why is it that it looks like he and his firm was involved in a scheme that you would have busted up... and it seems like they're going after everybody but Steve Rattner?" Instead of tapping into his legendary righteous indignation when it comes to Wall Street excess, Spitzer told an incredulous Scarborough that Rattner is "a very nice" and "extremely smart guy who appears to be doing a very good job" and who most certainly did not commit an "illegal abuse of power." Of course not! How could the vice chair of Spitzer's 48th birthday party [pdf] be guilty of such shenanigans? Of the man who contributed $50,000 to Spitzer's campaign in 2006. (Dick Grasso should have kicked in). No Joe, no one will go after Rattner. He knows everybody. Steven Rattner Campaign Contributions and Donations -- Huffington Post

New York's Pay to Play Pension Scandal(True News)

Pay to Play Pension Boss McCall As usually it what the NYP does not say in there story about the pension manager firm Ariel Capital Management that is most important. McCall firm skips city biz Ariel an investment company tied to Carl McCall -- and fired by the city last year -- says it won't bid for city pension business while he's the chief adviser to incoming city Comptroller John Liu. McCall's job with Comptroller Liu is that of transition chief that will expire once the comptrollers office is fully staffed. Does that mean the company which was dismissed over disappointing returns and involved in pay to play with the outgoing Thompson ($30,000 to the campaigns contibution) will return once McCall is finish with the transition. After all a lot of people in Liu office will owe their jobs to him. And McCall has done business with more than one company who do New York pension fund business and was no stranger to pay to play when he was comptroller Accountants and law firms Gave to Carl McCall After Getting State Contract *** Carl McCall is also under investigation by the the AG in the pension scandal is to be named to head John Liu transition team * McCall's linked to pension fund mess *** Ex-Comptroller Carl McCall Is Part of New York Pension Inquiry McCall firm Convent Capital was subpoenaed in May, because he accepted a money manager fee and was unlicensed by the SEC. McCall received $48,221 for assisting Steinberg Asset Management in 2005 which received 25 million in pension funds from State Comptroller Hevesi. After he turned over the papers McCall said in a statement, that this is the only deal in which he participated involving the fund he once controlled. What about Ariel Capital Management? McCall is the former State Comptroller(1993 to 2002). McCall also admitted that he talk to Mr. Loglisci, who is currently indicted for his role in the pension scandal. Ariel Capital Management was a big contributor to indicted former Chicago Governor Blagojevich Pension fund firms big donors to gov :: CHICAGO SUN-TIMES * The Wolf at Thompson's Door * Everyone is Covering Up the Pension Scandal for Their Own Reasons UPDATE CalPERS probing investment advisor's ties to middleman Documents show Alfred J.R. Villalobos was helping private equity firms win deals with the California pension fund while also working for a firm hired by CalPERS to give it investment advice. Villalobos firm Arvco CapitalAfter Introduction From Ferrer, Firm Earned $100,000 From State Pension Fund

Pension Fund Pay to Play Hevesi Gotbaum: True News Exclusive

 

A Pension Crook Tells Us Not To Break Up the Big Banks . . .  While His Pension Partner Hank Morris Sits In Jail
Regulate, Don't Split Up, the Huge Banks - Steven Rattner, New York Times