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 ***************

Rating Agencies Informed As New York State Pension Funds Have Estimated Losses of $7.3 Trillion Dollars

Letter:   August 11, 2011

To: Moody's Investors Service, Inc.
101 Federal Street, Suite 1900
Boston, MA 02110
Standard and Poors
55 Water Street New York, New York 10041
One State Street Plaza,  New York, NY 10004
Re: Trillions in losses and fraudulent pension asset assumptions in New York State, also, New Jersey.  Potential civil and federal criminal liability

Dear Sirs: You are promising to report on States.  New York State is liable for its Pension funds' losses and underfunding.  This is to inform you that NY State Pension Funds have estimated losses of approximately $7.3 trillion dollars and NYS's assumption of a safe return of 7% can only be characterized as a fraud.  It is not possible for NYS to fund its Pension obligations and/or losses through taxes or by changes in employee contributions which are contractually determined, because of the NY State Constitutional Provision copied here:
   #7. After July first, nineteen hundred forty, membership in any pension or retirement system of the state or of a civil division thereof shall be a contractual relationship, the benefits of which shall not be diminished or impaired. (New. Adopted by Constitutional Convention of 1938 and approved by vote of the people November 8, 1938.) Note that Andrew Cuomo is making no efforts to amend the NY Constitution in regard pensions.

        In regard to New Jersey, it was reported that, "to justify an 8.25% interest assumption assets were in investments that could possibly generate that return so, as of May 31, 2011, the plan’s $74.7 billion was allocated 27% in domestic equity, 30% in bonds, 20% in international equity, and 17% in alternative investments.  With only about $300 million in employee contributions coming in over the last two months, while $1.3 billion in payouts left on top of this 10%+ investment drop the plan likely has about $65 billion this morning."   In New York State things are worse, because of NYS Constitutional restrictions on Pension Changes and the trillions of dollar size.

    The NYS Comptroller reports:
 The following table summarizes the market values for March 31, 2010 and 2009 (In Thousands):

Asset Type               3/31/2010 Market Value  %of total      
Domestic Equity            $ 51,495,373             38.9%           
International Equity          21,178,608             16.0
Private Equity                 12,799,735              9.7
Absolute Return Strategy   3,817,538              2.9 
Real Estate                       5,551,078              4.2
Core Fixed Income          33,726,066            25.4 
Mortgage Loans                   845,721             0.6
Short-term Investments     3,086,085             2.3

Total Investments        $ 132,500,204           100.0%

Market losses have exceeded 10% in both domestic and international equities with estimated losses of $7.3 trillion dollars for NYS's portfolio.   Real Estate is substantially decreasing in value in NYS.  Get a good laugh at the 119 page long list of funds held by NY State and ponder how the NY State Comptroller can keep tabs on such a large number of funds.

                    Based on Market Values as of March 31, 2010.
                               Annualized Rate of Return
                              1 Year        3 Years       5 Years        10 Years
Total Fund              25.87%        -1.68%         4.16%          3.75%
Domestic Equity      51.70         -4.10          2.20           0.52
International Equity  56.77         -5.00          5.52           2.72
Private Equity          11.61          2.40         12.82           8.56
Absolute Return
Strategy                 14.95         -0.44          3.29             —
Equity Real Estate  -27.77        -17.65         -0.11           9.56
Core Fixed Income   7.92          7.00          6.06           7.57
Treasury Inflation
Indexed Securities    5.01          5.75          4.34             —
        The Core Fixed Income and Treasury Inflation Indexed investments cannot expect to earn anywhere near the 7% assumption.   In its latest action, the Federal Reserve has frozen interest rates for the next two years and 10 yr Federal returns would be for the next two years at 2.14%, not 7.0%.

   Bottom line is New York State has an estimated $7.3 trillion dollars in Pension losses and no possible way to fund them, nor to earn 7.0% safe return with 10 yr. Treasuries at 2.14%.  Please read my prior post New York State Rating Downgrade: Who'll Repay The Bonds As Taxpayers Flee? concluding with, Who'll repay the bonds?
   As you, the rating agencies, may note in the new law suit against Bank of America, there will be consequences for those not reporting truthfully.  Please also be aware of Federal Law Title 18 as to who may be charged in a federal criminal action.

TITLE 18 PART I CHAPTER 1 #2. Principals
Whoever commits an offense against the United States or aids, abets, counsels, commands, induces or procures its commission, is punishable as a principal.
Whoever willfully causes an act to be done which if directly performed by him or another would be an offense against the United States, is punishable as a principal.

Sincerely yours,


P.S. Please access website for working links to all data.