Quick Partial Index (all are links) To Cuomo's Corruption And Its Cost


Letter to Super DEBT Committee - Save $2 trillion dollars without harming Medicaid beneficiaries. link

Letter to Congress: save $200 billion in Medicaid in this year's budget.
link link
Congress notified of NY medicaid fraud by NYS link

Even with wildly optimistic pension earnings predictions, New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link

A. Latest on Chapter 10 Bankruptcy link 1 Link 2
B. Cuomo Budget Link 1 Link 2
C. NY Bonds Link1 Link 2 Link "Writing on Wall"

Cuomo as Governor
Medicaid Redesign Team: Medicaid Budget increases, not decreases Cuomo's Lobbyist Crony Heads Medicaid Redesign.
Cuomo's Lobbyist Crony renamed Consultant and all is well

1. Cuomo Stars as Captain Renault in Casablanca remake and link 2 Cuomo's repeat performances

2. Cuomo fails to follow Brown and cut his budget by 25%

3. More Cuomo fails to equal California's Brown

4. How States go bankrupt.

5. Cuomo and Medicaid headed nowhere

6. Look at Alternate currency: A Ron Paul, a $3 Cuomo, a California IOU

7. Cuomo's credit card taken away.

8. New Chapter 10 Federal Bankruptcy for States.

9. The new $3 Cuomo I.O.U.

10. Cuomo and NY Bondholders See The Writing On The Wall

11. New York Bankruptcy and Bond Devaluation

12. Cuomo Loads Up His Band Wagon With Committees For The Downhill Race With California

13. Ponzi to Madoff to Hevesi to DiNapoli; New York Learns About A Phony Safe 7.5% Pension Return

14 Economic Laws Lead Andrew Cuomo To A Hard Fall

15. Cuomo Meets "The Ghost Of NY Yet To Come"

16. Fiscal Disaster As Andrew Cuomo And His M.O. Are Slapped Down By Chinese Reality Checks

17. The New Word Order, "Nixon/Blogo/Cuomo" Predicates Andrew Cuomo's Fate

-Cuomo's prior corruption-

18. Cuomo Perfected His M.O. At HUD With $59 Billion Unaccounted For ; stealing the poor guys blind; Medicare $1.2 billion per year fraud; Multiple $50,000 bribes; Cuomo bungles criminal trial, rich executives walk;

19. The Second Cuomo's Smoking Gun: AEG Victory Celebration Needed Rev. Sharpton And Andrew Cuomo In The AEG Bag

20. Cuomo's Corruption Allowed $400 Million To Be Added to $1.2 Billion In NY Medicaid Fraud To Be Refunded By NY State To Federal Government

21. Andrew Cuomo Kisses And Makes Up With The Albany Swamp's Legislature Vermin, Reprobate Politicians, A Whore and Charles Rangel, Ashley Dupre, boss Vito Lopez, David Paterson, as obedient house boy, Andrew Farkas, who Cuomo accused of paying millions in kickbacks, and Allen Isaac (sex predator)

22. Sex Predator: Cuomo can clean his own nest

23. Cuomo changes pay to play to indirect payment and we're fooled

24. Cuomo bungles criminal prosecution

25. Cuomo covers up NY corruption

26. Cuomo covers up missing 9/11 Red Cross Money

27. $1.2 trillion loss resulted from the 50 % of $2.4 trillion in loans ordered by Cuomo at HUD, *Cuomo's smoking gun

************ BLOG POSTS BEGIN ***************

New York Bonds Are Down Rated Based On Cuomo's Executive Budget

Rating the Cuomo Executive Budget for Bond Purchasers

  The Cuomo 2011-2012 Executive Budget is like fancy curtains placed in the window hiding a burnt out interior in the house.   First,  there is the new folly presented by Cuomo:
1. Cuomo expects government bureaucrats and committees could design programs to save money. (SAGE Spending and Government Efficiency, Medicaid Redesign Team, 10 regional Economic Development Councils, Right-sized Youth Detention into community-based programs, Mandate Relief Resign Team) Link to Committees.  Grade D

2. Cuomo in his first sentence proposes to "eliminate a $10 billion dollar deficit without raising taxes or borrowing" and then he is borrowing $5.6 Billion dollars.    Grade F

3. Cuomo says, "New York is number one in education spending and number 34 in results and number one in healthcare spending and number 21 in results."  Cuomo expects the same State workers running these programs will change their stripes, now that Cuomo is Governor?    Grade -Delusional/Incomplete

4. Cuomo has a creative "funds shift [that] would result in the use of state bond proceeds for payment of a portion of debt service on MTA revenue bonds."   Grade F

Then there is the Cuomo folly reported yesterday on this blog:

 5. Cuomo's budget will fail to deal with the elephant in the room and will not follow eight other State's models for laws and regulations which could produce at least  $29 billion in savings per year.  And Cuomo and his Medicaid Redesign Team  is filled with trough feeders.  Grade-Delusional/Incomplete

6. Cuomo's budget  used the "Madoff-like" pension assumptions of 7.5% safe return on pension investments. and continue to allow borrowing to fund contributions.     Grade F
7. Cuomo will fail to budget in the required repaying of the federal government for Medicaid frauds tolerated by New York.  This is minimally estimated at $6.4 billion needed to added to deficit or be funded.    Grade F

8. Cuomo reducing Medicaid waste and fraud is a joke, since Cuomo recovered only 0.6% of medicaid fraud while he was Attorney General.    Grade -Delusional/Incomplete

9. Cuomo forgot what happens when New York's bond rate rises?  and NY's borrowing costs will move up from $5.6 Billion to $18.8 Billion.       Grade D

10. Cuomo forgot about repaying the Unemployment Insurance: State Trust Fund Loans of  $3.1 billion.   Cuomo must pass this on in higher unemployment contributions by New York Employers and watch the Cuomo Business Friendly New York fizzle.     Grade F

11. Cuomo claims a $10 billion dollar deficit, when if he could add correctly he'd get $22.1 billion deficit,  without even counting the pension shortfall from the phony 7.5% safe return and the "Build America" funding losses.     Grade F

New York State Bonds will be rated overall Grade D- and the multiple delusional/incompletes show an impossibility of improvement.

     The good News is Moody's acts slowly on bonds.  Their downgrade of Egyptian Bonds reported on Monday, many days after any sane person would have.
      In further regard of Bond Rating Firms:  The Financial Crisis Inquiry Commission established  by Congress and signed by the President Obama in May 2009 reported on page 25: "We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction. The three credit rating agencies were key enablers of the financial meltdown. The mortgage-related securities at the heart of the crisis could not have been marketed and sold without their seal of approval. Investors relied on them, often blindly. In some cases, they were obligated to use them, or regulatory capital standards were hinged on them. This crisis could not have happened without the rating agencies." [link to full report 600+ pages]
You still have time to sell your New York Bonds before they are devalued.  Or, you can hold on to your bonds and then later join the class action suit against rating agencies to recover losses. 

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