G.O.P. Wants More Details of Corzine Aid

NY Times ^ | August 5, 2005 | DAVID KOCIENIEWSKI

[neverdem]

TRENTON, Aug. 4 - Saying that New Jersey cannot endure another governor hobbled by personal entanglements, New Jersey Republican leaders called Thursday for Senator Jon S. Corzine to disclose any other financial dealings he may have had with a union leader to whom he gave $470,000.

Their statements came after news reports that in 2002 Mr. Corzine provided a $470,000 mortgage to Carla Katz, president of Communications Workers of America Local 1034, which represents 9,000 state workers and will be among the labor groups lobbying the next governor for billions of dollars in wages and benefits.

In an interview with The New York Times on Wednesday, Mr. Corzine, the Democratic candidate for governor, said he and Ms. Katz were dating at the time he made the loan. He forgave the debt in December 2004, several months after they ended their relationship, he said.

Mr. Corzine and Ms. Katz said this week that their past relationship and financial dealings would not prevent them from representing their constituents, but they declined to say whether they had other financial interactions.

Mr. Corzine's Republican opponent in the November election, Douglas R. Forrester, called that response inadequate, saying New Jersey voters had the right to know whether their official duties as governor and union leader might be swayed by their personal and financial relationship.

"I think they should disclose everything, especially if there is any ongoing financial arrangement," he said. "It suggests an all-too-familiar pattern in New Jersey of public officials entangling themselves in relationships that are not private matters but in direct conflict with the public interest."

While Mr. Forrester approached the topic rather gingerly, saying that he respected their right to privacy, other Republicans were more pointed in their criticism of Mr. Corzine.

[Alberta's Child]

That may be the case when the gift is paid to someone who isn't required to file an income tax return (a child, for example).

I'm no expert, but I remember this was a major topic of discussion a couple of years ago when some wealthy benefactor offered to pay the civil damages in the libel suit against Al Sharpton before he ran for governor of New York or mayor of New York City.

[OldFriend]

The media is much too busy checking out the adoption of Roberts' babies. No way will they have time to dig into this crook's financial shenanagans.

[savedbygrace]

Mr. Corzine and Ms. Katz said this week that their past relationship and financial dealings would not prevent them from representing their constituents

Oh, OK. In that case, never mind.

Sheesh, the voters are idiots and Corzine knows it.

[mware]

I smell blood in the water.

[dead]

When you give somebody a large cash gift, you pay the taxes on the gift. The receiving party owes nothing.

[mware]

I almost thought this statement was serious until I saw the reference to Torricelli and McGreevey. ;-)

We in Jersey like to call them, Daddy Warbuck, Torch Torricelli and McGreedy.

[Alberta's Child]

I wouldn't even necessarily call the guy a "crook." He's apparently extremely wealthy, so in his case the political power is more important than the money. Heck -- it's nice to see an elected official paying a constituent or special interest group $400,000+ for a change . . . usually it's the other way around.

For all his money, Corzine is apparently a very bad businessman. In what will surely go down as one of the worst "investments" in the history of U.S. politics, he spent $68 million of his own money to win his seat in the U.S. Senate back in 2000, only to become so utterly bored in Washington that he's running for governor of New Jersey without even finishing a single term in the Senate.

[Alberta's Child]

Thanks for clarifying that. I did a little research on this, and I believe this is the case whenever the "giver" of the gift decides to file a form with the IRS identifying it specifically as a gift -- thereby allowing him to apply whatever exemptions he would be permitted ($11,000 as of now) against his total estate for future estate tax purposes.

[Williams]

I wish I had a $470,000 mortgage.

[Clintonfatigued]

If Corzine can't shake this off, will he drop out of the race at the last minute like The Torch?

[Clintonfatigued]

I wonder what the New York Post has to say about this?

[OldFriend]

In case you didn't know. Corzine was fired from Goldman Sachs.

He was on vacation and when he returned to the office he was locked out. Not permitted to enter the building without an escort.

Does that suggest that he retired in good stead?

Goldman Sachs refused to reveal exactly what brought about the firing. They like to keep their dirty laundry in house.

[Ann Archy]

OMG! Who the hell GIVES and then FORGIVES someone a $470,000 "LOAN"??? NO ONE....at least no HONEST person.

PLEASE....PLEASE...name me ONE ethical DEMOCRAT (not counting DINO Zell Miller)....I'll bet no one can. Crooked POS's...they are really getting on my last nerve and the idiot people that cntinue to vote for them!

[finnman69]

The fine tradition of corruption in NJ continues

[Ann Archy]

CRIPPLE a Corrupt Dem.....hardly....this actually ENHANCES them wih their constiuents who don't have a moral bone in their bodies.

[Ann Archy]

LOL!! You had me! I almost thought it was a true statement!!

[Ann Archy]

Isn't there a LIMIT on money gfts t an individual...even if you pay the taxes?? I thought you can only give so much away a year.

[Ann Archy]

Wow...Corzine must be REALLY icky if he has to buy it at $470,000.00....wow...SUPER ICKY.

[Ann Archy]

Are you sure Corzine was FIRED from Goldman Sachs?? I thought he got a HUGE bonus.

[Victoria Delsoul]

Mr. Corzine and Ms. Katz said this week that their past relationship and financial dealings would not prevent them from representing their constituents,

Of course not... they're Democrats.