Posted on 10/19/2008 8:00:20 AM PDT by greyfoxx39
A California financial firm at the center of a federal investigation received $1.4 million for its work on the state's GRIP bond program. But if you want to look at the formal contracts, you're out of luck.
There don't appear to be any.
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The FBI and U.S. Attorney's Office want to know how CDR got hired in 2004 to work on the $1.6 billion bond issue used to fund highway projects and the Rail Runner commuter train.
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CDR owner David Rubin made two contributions totaling $85,000 to political organizations close to Gov. Bill Richardson. The first came six days after CDR was hired as a special adviser on the bond deal; the second was four days before Finance Authority staff recommended the company get the no-bid deal to manage the escrow account.
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Scoring sheets show that CDR was the runner up in the staff review of the company proposals. But CDR would have come in fourth if an additional area of expertise had been added to scoring.
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The bond documents show CDR received more than $950,000 from proceeds.
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David Rubin contributed $75,000 to Richardson's Political Action Committee.
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New Mexico Finance Authority is a quasi-state agency established in the early 1990s. It is not subject to oversight by the Department of Finance and Administration. It is exempt from many state statutes, including the procurement code. Further, the Legislature exempted the GRIP bonds issued by NMFA from having to get Board of Finance approval. The NMFA does not routinely submit contracts to the Attorney General's Office for review.
(Excerpt) Read more at abqjournal.com ...
The crap that is the Richardson reign just keeps oozing out through the pores of the state...Joe the plumber is badly needed here!
Remember, Richardson had dreams of being POTUS...and is a possibility for Obama's dream team cabinet!
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THE PROBLEM IS, that the Democratic machine has the state government by the organs and we cannot get anyone to run against Fat Billy, that is less corrupt than he is.
Well, I believe Bill is term-limited, but you are right...who would try to run against the corruption of the democrat machine? They are so entrenched, and remember, THEY count the votes!
“There DON’T appear to be any”?? What sort of English is this?
Consider the source....today's "journalists"!
Well, that’s a bargain. The price has gone down
It was 10% MINIMUM back when I was bidding on state contracts back in th 80s.
I’m getting sick of this state. Sure, it has always been pretty corrupt politically, but these current people are just so blatant about it.
I wouldn’t mind so much if they would be a little subtle about it.
They are taking Obama's message to heart..."get in their faces".
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