Posted on 06/19/2002 5:51:47 AM PDT by areafiftyone
Edited on 05/26/2004 5:06:54 PM PDT by Jim Robinson. [history]
Or is he just playing politics?
The latter, we bet. And he would do well to stop it.
McCall is state comptroller - and, ex officio, the sole trustee of New York's $112 billion employee retirement fund. And he's running for governor.
(Excerpt) Read more at nypost.com ...
Wrongo. McCall's fiduciary responsibilities are to all of pension enrollees in the state plan. His duty is to administer the pension plan in such a way as to maximize gain consistent with sound and prudent management practices. If drug companies have a good return and represent a good investment, it would be illegal for McCall to direct state pension funds away from these stocks for any political purpose. He is required by law to maintain a diversified portfolio which will, of necessity, include drug stocks.
I for one hope he tries to do it. It's about time these power freaks got re-aquainted with the blunt side of the law's hammer.
The pension funds (i.e., CALPERS, etc.) punished Enron for what Enron did to the people in California, which caused Enron to go bankrupt.
"Given the enormous firepower of this and similar weapons, it is clear that or military and our allies' military must have them, but it provides further evidence that such weapons should not be readily available to citizens in America or anywhere else in the world."
- NY State Comptroller and future Gubernatorial hopefull H. Carl McCall, after visiting an Israeli Defence Forces training camp in March 2002.
as far as i am concerned that is all he does with his office
It's disgusting that they are able to get away with using taxpayers money to go after the opposition for their own political gain. If there is a real violation of the law they (he) ignores it. Three years go I wrote to his office about a violation of the law here on Grand Island, of course ther is a democrat supervisor, McCall chose to ignore it.
He's got to get past that charming, sweetheart of a man in the primary first--y'know, good old Andy Cuomo, Mr. Nice Guy. (Whoever thought that Andy would make us long for the understated charm of his father, Darth Mario).
hahaha you crack me up
: ]
You misunderstand the game. The rules only apply when enough of the right people play by them.
Recently a cop declared to me (I kid you not) "We are the law here, and you are not going to do X." (X being something completely legal, reasonable, and common.)
Read Benson_Carter's post above; do you think McCall gives a d@amn about rules?
Now the Attorney General of the State of New York is Elliot Spitzer, who is about as despicable a Clintonista as you could ever hope to find, so I leave him out. That leaves the US Attorneys for New York. White is out, obviously. Who is the US Attorney for the Northern District of New York?
Either that, or a bunch of pension holders who are tired of seeing the pension fund be eroded while the Comptroller plays political games can get together and sue Mr. McCall. If he were really a Trustee, he would be personally liable for any losses due to his malfeasance. Since he is a public employee, I am sure he is not. But then he is not really a trustee, is he? Still, it would be a heck of a lawsuit!
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