Some Southern Brooklyn Pols Flock to John Liu

Assemblyman Bill Colton, John Liu and Mark Treyger yesterday.
Assemblyman Bill Colton, John Liu and Mark Treyger yesterday.

While the vast majority of the city’s political figures have flocked to leading mayoral candidates Christine Quinn, Bill de Blasio and Bill Thompson, John Liu has quietly assembled a seemingly unlikely coalition in southern Brooklyn.

Even though he’s placing a distant fifth in the polls and has been battered by a serious fund-raising scandal, a pair of assemblymen and two top City Council candidates are soldiering onward on Mr. Liu’s behalf.

Continue reading “Some Southern Brooklyn Pols Flock to John Liu”

Assemblyman Peter Abbate to Endorse John Liu

Peter Abbate (Photo: NYS Assembly)
Peter Abbate (Photo: NYS Assembly)

Comptroller John Liu may be facing the scrutiny that comes with two associates being convicted of an attempted fraud scheme on his behalf, but his mayoral campaign is still plugging along. Indeed, Mr. Liu will be endorsed by Brooklyn Assemblyman Peter Abbate tomorrow morning, according to a Democratic operative with knowledge of the event.

Continue reading “Assemblyman Peter Abbate to Endorse John Liu”

Lawmakers Push For Legislation To Allow AG To Go After Pension Fund Fraudsters

049 Lawmakers Push For Legislation To Allow AG To Go After Pension Fund Fraudsters
Peter Abbate (Photo: NYS Assembly)

Against the backdrop of the contentious turf war over Governor Andrew Cuomo’s pension reform plan, a trio of Democratic Assemblyman and several labor leaders are calling for passage of the Institutional Investor Recovery Act. This legislation would allow the Attorney General to seek damages and recoveries when public pension funds suffer losses due to securities fraud. Currently, the Martin Act gives the Attorney General broad powers to prosecute securities fraud, but it does not allow the State to recover losses on behalf of public pension funds. Pursuing losses from financial firms is a favored topic of opponents of the governor’s pension reform push who argue the focus should be on penalizing Wall Street firms that lost money from the pension fund rather than cutting benefits.

“All the focus on the issue of pensions has been on the benefit side of the equation. We need to look at what happened on the investment side. It simply doesn’t make sense that the pension funds have no practical way to recover investment losses caused by fraud,” said Assemblyman Peter Abbate the lead sponsor of the bill to update the Martin Act. Continue reading “Lawmakers Push For Legislation To Allow AG To Go After Pension Fund Fraudsters”

Insiders Expect Two New Asian-Majority Assembly Districts

southern brooklyn asian district Insiders Expect Two New Asian Majority Assembly Districts
A hypothetical map Politicker drew earlier last year. The blue district would be majority-Asian.

According to people familiar with the situation, the State Assembly’s redistricting maps will contain two new Asian-majority districts in Queens and Brooklyn. These two districts will house incumbent Assembly Members Peter Abbate and Rory Lancman.

Despite the demographic shift in their districts, both Assemblyman Lancman and Abbate should be strong favorites for reelection in their Democratic primaries this year, partially because of the strength of the incumbent candidates and partially because any challenger would face difficulties forming a majority coalition. Continue reading “Insiders Expect Two New Asian-Majority Assembly Districts”