Thursday, May 7, 2009

Investment Investigations a Plenty!

New Mexico is not alone.

The New York Times reported Thursday that there are investigations in 30 states concerning possible corruption in investments.

“A survey of practices across the country portrays a far-reaching web of friends and favored associates: political contributors, campaign strategists, lobbyists, relatives, brokers and others, capitalizing on relationships and paying favors. These influential figures can determine how pension funds are invested, as well as state university endowments, municipal bond proceeds, tobacco settlement funds, hurricane insurance pools, prepaid tuition programs and other giant blocks of public money.”

But they didn't forget to mention New Mexico by name. The article mentions the Frank Foy pay-to-play lawsuit and Marc Correra's finder's fees.

Read the story is HERE. (Thanks Lorene!)