NJ payment of $1 million to Goldman Sachs for bogus interest- rate swap agreement is a Repuplican cheap stunt before election but who will prosecute criminally negligent oversight and Goldman Sach's fraudulent behavior?
Special Correspondent
Oct. 23, 2009

No wonder Goldnman Sachs can give billions in bonuses to their employees in this time of economic depression. No wonder NJ State is busy wasting tax payers money in distributing wealth to the corrupt wealthy that controls the power base.

NJ payment of $1 million to Goldman Sachs for bogus interest rate swap agreement is a Repuplican cheap stunt before election but who will prosecute criminally negligent oversight and Goldman Sach's fraudulent behavior?

No one. They just continue to reap the common people of United States day and night. If this is not a crime, what is?

NJ is making more than a million dollar in payments under an agreement made during the administration of former Governor James E. McGreevey in 2003, when New Jersey’s Transportation Trust Fund Authority sold $345 million in auction-rate bonds whose yields fluctuated with short-term interest costs.

No one knows how many other such fiancial stupidity lingers in the system. If it was not an election time, and Republicans had no reason to bring this out, we would bever know about these so called hidden unethical behaviors.

The state paid close to a million dollar under the agreement last month and a total of almost $11.5 million since the auction-rate bonds were redeemed a year back. The unethical expenditures come as the fund reaches its borrowing limit and Governor Jon Corzine, Goldman’s former chairman who was a U.S. senator when the contract was signed, seeks $400 million in budget reductions as tax receipts fall. It is not a shame. It is worse than a shame for both Republicans and the Democrats!

NJ payment of $1 million to Goldman Sachs for bogus interest- rate swap agreement is a Repuplican cheap stunt before election but who will prosecute criminally negligent oversight and Goldman Sach's fraudulent behavior?
Special Correspondent
No wonder Goldnman Sachs can give billions in bonuses to their employees in this time of economic depression. No wonder NJ State is busy wating tax payers money to the corrupt wealthy that controls the power base.
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