Posted on 01/13/2011 8:14:17 AM PST by CedarDave
Unsettling revelations about the Richardson administration keep coming to light even as the former governor eases back into private life.
In the midst of ongoing federal investigations into pay-to-play allegations and insider investment deals involving the State Investment Council and the Educational Retirement Board comes word of a fishy deal that died thanks to some sharp-eyed former state staffers.
What was afoot was a plan to invest $100 million of New Mexico taxpayers' money in a Baltimore casino deal.
The arrangement included a familiar cast of characters — former State Investment Officer Gary Bland, Canadian developer Michael Moldenhauer, and former Santa Fe broker Marc Correra. Moldenhauer and Correra at one time were partners in a stalled racino in Raton.
[Snip]
New Mexico taxpayers will never know if an out-of-state casino would have produced a marvelous return on investment or would have just been millions of our dollars down a rat hole, but for sure the insiders were set to benefit.
That such a deal was even considered shows the willingness of Richardson's cronies to view the state's coffers as their own private bank. As more documents come to public light, each revelation just gets more stunning and makes you wonder. How could all of this be legal?
(Excerpt) Read more at abqjournal.com ...
Says it all. His "legacy" will forever be the railroad to nowhere and scandals to numerous to count.
NM list PING! Click on the flag to go to the NM FReeper message page.
(The NM list is available on my FR homepage for anyone to use. Let me know if you wish to be added or removed from the list. For ABQ Journal articles requiring a subscription, scroll down to the bottom of the page to view the article for free after watching a short video commercial.)
Please add me to the NM ping list, thanks.
Done!
I hope that when history writes about how corrupt the Obama administration was that Richardson will be the footnote as “the guy too corrupt for them to accept as a Secretary.”
Why in the world would any sane state official want to “invest” taxpayer dollars in a business in another state?
Maryland “Freak State” PING!
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