Today’s sudden revelation that J.P. Morgan lost $2 billion†had a lot of mouths hanging open, and while the detail’s of the company’s wagers gone wrong aren’t all present, Attorney General Eric Schneiderman argued on MSNBC that the case demonstrates the need of strengthening financial regulations.
“People talk about principles,” Mr. Schneiderman said. “There’s one principle: Unregulated markets always crash. Unregulated markets always produce massive losses on risky bets.”
The White House “will get back to you” about whether or not President Obama is endorsing Congressman Charlie Rangel.
The Cuomo shelf at your local bookstore is growing larger.
Cuomo hired the Independent Democratic Caucus’ spokesman Rich Azzopardi.
He’s raising money for the Assembly Democrats, no word yet if he’ll help their Senate counterparts.
Yossi Gestetner and Orthodox Pundit look at Bill Thompson’s support among Orthodox Jews.
Attorney General Eric Schneiderman is suing the board of directors for the Thoroughbred Retirement Foundation, a large nonprofit organizations dedicated to taking care of retired thoroughbred racehorses, for failing to take care of the 1,100 retired horses in its herd.
“New York and the nation need the Thoroughbred Retirement Foundation to succeed. But unfortunately, TRF’s board has driven this vital organization into the ground, threatening its mission and the very horses it is supposed to protect,” Mr. Schneiderman said in a statement announcing the lawsuit. “Despite my Office’s efforts to encourage reform, TRF’s current directors have proven incapable of turning around the dire situation they have created. The time has come to give new leadership a chance.”
With a few days to go before Election Day in 2010, State Senator Eric Schneiderman was locked in a tight Democratic primary for attorney general. So his campaign released a television ad as rudimentary as any broadcast that political season, featuring a number of prominent politicians—City Council Speaker Christine Quinn, West Side Congressman Jerry Nadler, Manhattan borough president Scott Stringer—carrying a folded copy of The New York Times, while reading from its endorsement of his candidacy. The paper’s masthead floated at the bottom of the screen.
That campaign, like most Democratic primaries in New York City and State, had been staked on getting the paper’s backing, and a few days after he got it, Mr. Schneiderman eked out a 2-point victory over Nassau County district attorney Kathleen Rice, even though Ms. Rice was tacitly backed by Andrew Cuomo and much of the Democratic Party establishment.
“Eric Schneiderman became the attorney general because of that endorsement. Period,” said one political operative involved in the campaign.
Attorney General Eric Schneiderman announced today that the state is suing cell phone carriers Sprint-Nextel Corp for underpaying millions of dollars in taxes.
“By deliberately evading sales taxes, Sprint cost state and local governments over $100 million that could have been used for critical services and much needed resources that our state and its citizens need given the challenging economic times we are in,” Mr. Schneiderman said in a statement. “The message of our office is clear – tax dodging is not acceptable and we will use every tool in our arsenal to make sure that taxpayers’ money is protected, and that honest businesses and consumers are not placed at a disadvantage for collecting and paying their fair share of taxes.”
What You Should Know
State Senator Ruben Diaz Sr. sent out an epic press release today in which he again denied any involvement in the scandal surrounding his charity, accused Attorney General Eric Schneiderman of having a vendetta against him and urged local media to “go back to journalism school.”
“I am not a saint, and neither do I claim to walk on water. I have my own demons, but I assure you that they are not about a corrupt mind abusing the trust and confidence that my constituents have placed in me,” Mr. Diaz said.”
Mr. Diaz’s lengthy letter blasting the attorney general’s office and the press for looking at his charity’s finances was entitled, “God Hates Ugly and He is Watching.”
Clement Gardner, a campaign aide to State Senator Ruben Diaz, was charged today with embezzling $75,000 from a charity founded by the senator. In a press release announcing the indictment, Attorney General Eric Schneiderman said his office is continuing its investigation into the charity and accused Mr. Gardner of using the Christian Community Benevolent Association, which operated senior centers and children’s services as “a personal piggy bank.”
“Today’s charges demonstrate our vigilance in ensuring that every taxpayer dollar is spent properly, and that corrupt individuals who betray the public trust to line their own pockets will be prosecuted to the fullest extent of the law,” Mr. Schneiderman said.
If Barack Obama thought that bringing Eric Schneiderman into the tent would slow the New York attorney general down, he appears to be mistaken.
Mr. Schneiderman’s tenure as attorney general has served as something of a rebuke of the administration, particularly in its response to the financial crisis and the mortgage meltdown. At the State of the Union, Mr. Obama seemed to want to get Mr. Schneiderman to sign on to the 50-state mortgage settlement by announcing that he would chair a commission looking into the housing collapse. Last month the AG did so.
Now Mr. Schneiderman has struck again, writing today that the Democratic Party platform drafting committee that they should put support of same-sex marriage into its convention plank this summer.
“Because the Democratic Party has a noble history of fighting for the human and civil rights of all Americans, it is time to hold true to this record and add to the Party’s legacy by supporting the freedom to marry for all couples,” said Mr. Schneiderman in the letter.
The Obama administration’s efforts to bring Eric Schneiderman into the fold do not seem to be deterring the New York attorney general.
Today Mr. Schneiderman filed a lawsuit along with 10 other states to compel the federal Environmental Protection Agency to revise national air quality standards for air pollution involving soot.
“Clean air is a public right, and standards that protect it are a necessity,” said Mr. Schneiderman said in a statement. “Every day, air pollution, from soot, risks the health of more than one-third of Americans, including our most vulnerable – children, the elderly and the sick. These risks are simply unacceptable. The EPA must take prompt action to reduce pollution now, and safeguard the health of the public and the air we breathe.”
A new Siena College poll shows 77 percent of New Yorkers have a “favorable” impression of Governor Andrew Cuomo and most voters support key elements of his 2012 agenda. The poll also showed strong support for President Barack Obama and Senator Kirsten Gillibrand. Siena also polled voters on the Republican presidential candidates. Though all of the potential GOP nominees scored far lower numbers than President Obama in the poll, New Yorkers clearly have an especially strong distaste for Newt Gingrich.