I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
The Wall Street Journal picked up on New Mexico’s money woes today with a story that hit on the state’s budget crisis and the investment scandals that have plagued Gov. Bill Richardson’s term. The gist of it: State legislators are turning the state’s wallet upside down and shaking it, while throwing a hard look at investment advisors who may have spent our lunch money on video games and candy bars.
The whole story is painful, but here’s one particularly ugly passage:
[Former New Mexico investment advisor Saul] Meyer said that “on numerous occasions,” he urged investments that he knew would prove lucrative for “politically connected individuals” in New Mexico – even though those investments “were not necessarily in the best economic interest of New Mexico,” according to a statement by New York Attorney General Andrew Cuomo.
With the legislators facing tough decisions about spending cuts and tax hikes, that was not welcome news.
There has been no accounting of how much money the state may have lost from less-than-optimal investments.
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