Suit makes New York- New Mexico pay-to-play connection

Global Pensions ^ | 24 June 2009 | Raquel Pichardo-Allison

[NMRed]

A New Mexico whistleblower has filed a second pay-to-play lawsuit that makes a connection between the pay-to-play investigation in New York and the actions of firms working for New Mexico’s two largest pension funds. Frank Foy’s allegations are far-reaching, naming some two-dozen financial firms and claiming investments made by the new Mexico Educational Retirement Board and the State Investment Council (SIC) were meant to benefit New Mexico state governor Bill Richardson.

Foy, the former CIO of the ERB, also made a connection between pay-to-play practices in his state and the high-profile investigation going on in New York.

[NMRed]

Blue-birds of a feather?

[DrC]

My guess is that Bill Richardson’s defense of these shenanigans will be “I won.”

[Melchior]

Richardson has worked for some time to influence Navajo tribal council leadership to allow for gambling on that huge reservation. Should the Navajo agree, ole Bill and his New Jersey buddies reportedly could make a bundle.