Comments on: Consultant: Guv had too much power over State Investment Council

By: southvalley

southvalley — Sun, 14 Feb 2010 04:36:30 +0000

Well, we elect all the people who caused this mess. Why wouldn't we elect some that would be as corrupt again in regard to this?
At least with the feds breathing down their necks for the foreseeable future, the legislature would have more eyes to keep on the cash.

Sounds like Richardson had his fat fingers in so many pies, he STILL may be on the hook for pay to play, doesn't it?

By: southvalley

southvalley — Sat, 13 Feb 2010 22:36:30 +0000

Sounds like Richardson had his fat fingers in so many pies, he STILL may be on the hook for pay to play, doesn't it?

By: southvalley

southvalley — Sat, 13 Feb 2010 21:36:30 +0000

Sounds like Richardson had his fat fingers in so many pies, he STILL may be on the hook for pay to play, doesn't it?

By: Michael_in_ABQ

Michael_in_ABQ — Tue, 12 Jan 2010 18:54:23 +0000

The Rio Grande Foundation and the associated New Mexico Watchdog have dug into several questionable SIC investments. Here's an example : http://newmexico.watchdog.org/2009/12/28/anothe... Basically a company in Santa Fe got $9 million dollars. They promised to build a factory and R&D center in NM (they built it in Mexico and Arkansas and downsized the small workforce they had here already) and they hugely overstated their sales projections. One of the principals is closely linked to Governor Richardson (one of his numerous political appointees) and he apparently took a close personal interest in this investment basically telling the SIC to go through with it even though they knew it was a bad deal.

How this doesn't constitute a crime I don't know. At the very least the SIC and the Governor have violated their fiduciary duty on multiple occasions.

By: libertarian2

libertarian2 — Tue, 12 Jan 2010 16:12:58 +0000

I don't see how letting the legislature appoint these people will help reduce corruption. Our legislature is about as corrupt as our governor.

Do what the PERA Retirement Board does. Every member is voted on by the public. Now I certainly agree that a prerequiste may be some financail background, but let the public vote them in, leave the legislature and governor out of it.