Corzine Gave $470,000 Loan to Head of New Jersey Union

The New York Times ^ | August 4, 2005 | DAVID KOCIENIEWSKI

[granite]

TRENTON, Aug. 3 - Senator Jon S. Corzine provided a $470,000 mortgage to the president of a union that represents thousands of New Jersey state employees in late 2002, then forgave the debt two years later.

The union president, Carla Katz, was Mr. Corzine's girlfriend at the time. The senator said on Wednesday that an investment company he owns gave her the mortgage, then canceled it in December 2004, several months after they had stopped dating.

The loan was not illegal, and Mr. Corzine said he took care of the required gift tax on the money he ended up giving to Ms. Katz.

But if Mr. Corzine succeeds in his race for New Jersey governor this fall against the Republican candidate, Douglas R. Forrester, he could find himself negotiating opposite Ms. Katz, whose union, Local 1034 of the Communications Workers of America, represents 9,000 state workers and is one of a handful of labor groups that will seek billions of dollars from the state for wage increases and a bailout of the state's troubled health care and pension funds....

[ken5050]

"dilly of a deli.." bump..(g)

[Mo1]

After reading the Wa-po story it says he tured the mortgage into a gift. So I get that's why he had to pay a gift tax.

Yes .. anything over 10K would be taxed

But I would think there are ethical questions about giving a Union Boss a gift of at least 470K while also being a Senator of NJ

[ken5050]

Methinks you're correct..Every 20 years or so, the NJ voters get fed up and throw a temper tantrum. Remember when noboby Bell came within a whisker of beating Bradley...and they sent Florio to the woodshed....Corzine might just end up on the losing end. The secret, IMHO, is NOT to get the Dems to vote FOR Forrster, but rather, to vote AGAINST Corzine..It should be an A.B.C. campaign..Anybody But Corzine..

[EQAndyBuzz]

"Proof -- that the Democrats and Unions have been "in bed" together from day 1!

That was one expensive "girl friend".....
Or -- was it hush money? "

You get what you pay for. The Star Ledger in Jersey ran the same thing on the front page today. Question to them is, come October, who will the Ledger endorse?

[moose2004]

That's a catchy slogan, A-B-C: Anybody But Corzine. I like it.

[river rat]

"You get what you pay for."

Tell that to the folks that got stuck with Enron or Global Crossing stock....

Semper Fi

[martinidon]

"Both Mr. Corzine and Ms. Katz said that the money had nothing to do with the union's endorsement of his campaign and that it was given with absolutely no stipulations or promises"

Uh; I don't care what your party affiliation is; if someone gives you $500,000 free and clear you are going to feel a need to give something in return!

[Liz]

"hot pastrami he cut the mustard with" (smirk)

[ken5050]

Mamma Mia..thatsa soma spicy a-meataball

[BykrBayb]

From what I've seen in NJ, they're all democrats. Some of them borrow the Republican label, but they don't turn out to be real Republicans. Sigh.

[ken5050]

Ya gotta take whatever you can get....

[Kenny Bunk]

Yo, can't a Jersey guy give a girl a present without everybody like freakin' out?

[Liz]

Man, Corzine musta got drenched when he tossed that hot potato salad. Lotta un-dressing going on. Laundry bill for bed linen musta got expensive.

[Kenny Bunk]

Yo, can't a Jersey guy give a girl a present without everybody like freakin' out? Badda-Bing-Badda-Boom.

[BykrBayb]

Yeah, I know. In our last election, the ballot looked like an old Soviet Union ballot. "Select one," and there was only one listed. Or "Select two," and there were only two listed. One of them even said "Select one man and one woman," and of course there was one man and one woman listed. WTF? I was so fed up, I wrote in my own choices. Communist leaders, dictators and such. Of course, Adolph Hitler and Eva Braun got my vote for the male/female posts (I think that was freeholder.)

[VeniVidiVici]

Wonder how Carla's rank and file feel about her getting half a mil tax free dollars from a DEMOCRAT pol?

They bring it on themselves. They listen to the BS, spewed from the mouths of the leadership, only to be led over the cliffs.

The only ones that ever come out ahead in the end is the leadership.

[gathersnomoss]

You must be joking......jaw open.....drool string of spittal moving down to the keyboard...frontal lobotomy stare at screen...visions of notnilc, notnilc, notnilc...Here's Johnny!

[Liz]

Yo, can't a Jersey guy give a girl a present without everybody like freakin' out?

At least we know union leader Katz's---ahem---"gift" to JonBoy was labor-intensive (snicker).

[gathersnomoss]

Sure...you expect me to believe that? "Nice try. Sheesh, you would think that I didn't listen to the MSM for my news. Insulting me like I have my head up my a$$."

This site is so biased.

[gathersnomoss]

Hold your breath, Spanky. They will get on it real soon.

Clock is ticking.