NM Ping
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Posted on 02/02/2009 11:04:52 AM PST by CedarDave
As political alliances go, the four-year marriage between Gov. Bill Richardson and the Democratic Governors Association was golden.
Richardson got prestige, coast-to-coast travel and national exposure that would help fuel his presidential bid, while the DGA basked in his growing notoriety and fundraising prowess.
"It's been very beneficial," Richardson acknowledged in late 2006, when his stint with the political group — as federal liaison, vice-chair and unprecedented two years as chairman — wrapped up a month before he launched his unsuccessful quest for the White House.
Now, that political shine could be tarnishing.
Recent news reports say authorities have asked for information involving the DGA as part of the federal "pay-to-play" investigation that derailed Richardson's nomination for U.S. commerce secretary.
That probe centers on a single financial firm involved in Richardson's $1.6 billion GRIP transportation program, CDR Financial Products, and its contributions to the DGA and two Richardson political committees — Si Se Puede and Moving America Forward.
A Journal analysis shows three other firms that made millions on GRIP bond work — J.P. Morgan Securities, UBS Bank and RBC Dain Rauscher — also gave to the DGA, contributing a total of nearly $500,000 around the time the transportation financing plan was being developed and finalized.
Some of the donations were in cash, others were "in kind" services, such as catering. Swiss-headquartered UBS was by far the largest donor with about $421,000.
J.P. Morgan, UBS, RBC Dain Rauscher and one other company shared in at least $5 million in fees for handling GRIP-related bond work. They were also involved in interest-rate swaps related to the project.
Their contributions to the DGA often came in clusters while GRIP, and how to pay for it, was being planned by Richardson officials...
(Excerpt) Read more at abqjournal.com ...
The Journal also reports on donations to the Republican Governors Association: UBS gave about $75,000 to the RGA in 2003 and more than $220,000 in 2004, while J.P. Morgan contributed $50,000 to the RGA in 2004.
PING for the NM list.
Have you seen how much money NM gets in the stimulus package? It’s obscene.
Where do we get that information?? Got a link??
p.s. Obama carried the state and New Mexico elected all Dimocrats in the last election (went from 3 of 5 Pubbies to 5 of 5 Dims). So I guess this is the payoff.
This site is fabulous..you can search by State.....read it and weep...
www.stimuluswatch.org
NM Ping
If you want on or off the NM Ping list, please FReepmail me.
Access to the ping list is available to anyone by going to my FR home page.
Also interesting is the breakdown by city.
Places like Albuquerque have a lot, obviously, but Silver City or Alamagordo have more than Las Cruces?
Weird...
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