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

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Smoke And Mirrors As DiNapoli And Cuomo Hide Pension Costs While Schools Will Need Contribute 54% Of Salary To Pension Funds

 "The sky is falling and the taxpayers fleeing"  ~ Economic Grim Reaper on impending fiscal collapse.

   Could Andrew Cuomo be arithmetically challenged in regard the NY Pension underfunding and other impending disasters with his budget?   Yes.  Could Andrew be a silver spoon fed son of Mario whose head is swelled with dreams of his coming Presidency? Yes  Could Cuomo believe he lives under different rules of ethics because his father Mario anointed him, Governor and President?  Yes, because that explains how Cuomo took a $45,000 campaign check from a law firm while Cuomo's deputies were probing one of its attorneys for his role in the pay-to-play pension scandal.

       Meanwhile, Comptroller DiNapoli still touts his achievement that "in September 2010, the Fund [teacher's] lowered its assumed investment rate of return to 7.5 percent." No honest retirement fund can safely earn 7.5% in today's market, except if you are Bernie Madoff.   A private pension manger would be spending time in jail for such lying fraud.   But Dinapoli wasn't done with misleading and fraudulent claims of solvency for pension funds he managed.  He was touting the great returns his funds earned in a one year period such as "Domestic public equities returned 17.6 percent, while international public equities returned 14.3 percent. Real estate investments yielded a 26.7 percent return, while private equity investments generated an 18.9 percent return. The Fund’s emerging markets equities returned 16.1 percent, while Treasury Inflation-Protected Securities yielded 9.7 percent and core fixed-income investments returned 8 percent."   But DiNapoli forgot to mention that those returns were from huge earlier losses in 2009 recession.  "John Cardillo, a spokesman for the teachers' retirement fund, said the fund is still trying to make up for a steep decline two years ago.

       Even worse for those teacher funds, the schools now are paying based on DiNapoli's phoney improved safe rate of return which he lowered from 8% to 7.5%.     The schools complain that "in 2010, the pension rate was 6.2 percent of payroll and forced schools to collect about $926 million. Now at 11 percent, schools will have to pay nearly $1.7 billion, according to preliminary estimates."   Wait till the schools and ultimately the taxpayers discover that an honest safe rate of return for pension funds would be slightly above the 10 year treasury bond rate or very generously 3%.   Doing the arithmetic: going from 8% -3% =5%  is ten times greater than going from 8%-7.5% = 0.5%.     So a 3% safe rate of return would require the schools pay ten times the present increase of  (11%-6.2% =) 4.8% to an increase of 48%, which must be added to the prior 6.2% for 54.2% of salary to be contributed to the pension funds.    And wait, Cuomo and DiNapoli forgot to tell schools they have to fund retiree health benefits.

     How will schools do it with Cuomo's budget cap law?  Will more taxpayers flee?   Wanna buy some NYS bonds?

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