Two Republican legislators continued the call for Gov. Jon Corzine to answer questions regarding his investments in a hedge fund with some connection to Texas Pacific Group (TPG).
"As Governor Corzine likes to say, facts are a stubborn thing. In this case, they point to conflict of interest in the governor's investments and a disregard for propriety in his financial dealings," said Assemblyman Gary Chiusano (R-Frankford). "There are serious issues being raised that deserve more than the governor's flippant answers and dismissal of scrutiny.
Chiusano says that Corzine should divest himself of his TPG holdings. Corzine maintains that is investment is with TPG-Axon, a hedge fund that is separate from TPG. TPG says they have an internal fire wall to obviate a conflict between the two firms.
Assemblywoman Caroline Casagrande (R-Colts Neck) says that Corzine's Atlantic City casino investments show a "clear conflict of interest and may be illegal."
"By refusing to disclose the details of his investments, Governor Corzine has shown he believes that the rules do not apply to him," Casagrande said. "He must tell the voters the truth to remove any appearance of an abuse of power or influence in our state's gaming industry."
Former Scotch Plains Mayor Martin Marks, a Republican State Assembly candidate in District 22, says that it is "absurd" to think that Corzine, who ran one of Wall Street's largest investment banks before running for office, was unaware of TPG's involvement in Atlantic City casinos.
"Changing the names on a press release and re-sending it over and over again does not change the fact that Governor Corzine does not own casino stock," said Sean Darcy, a spokesman for the Corzine campaign, who noted a similarity between statements issued by GOP legislators over the last few days. "None of his investments are managed by anyone who has a casino license. He can’t profit one penny from the casino business because his investments are not connected to it in any way. Not a single one of the 22 jurisdictions that regulate Harrah’s casinos lists a financial connection between TPG and TPG-Axon"
Darcy says that casino regulators in New Jersey conducted a forensic audit of TPG and nowhere in its filings was there a single reference to TPG-Axon.
"Unlike Chris Christie, who repeatedly failed to disclose his financial interests and failed to pay his taxes, Governor Corzine has disclosed his investments in a fully transparent way. It is clear that Christie and his fellow Bush Republicans still don’t want to answer to the fact that Mr. Christie didn’t pay his taxes and ignored ethics laws by failing to disclose details about a real – not imagined – conflict of interest," said Darcy. "Chris Christie has a well-established pattern of having one set of rules for himself and another for everyone else, and now his campaign is desperate to do everything they can to distract away from it."
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That's nice but it doesn't answer the question
The conflict of interest law prohibits the governor from being partners with people who have a casino license. The partners in his hedge fund (TPG) own a casino license. End of Story. There is no need to go deeper into the weeds where the Governor wants to drag this.
Go directly to jail, do not pass go, do not collect your $200.
this is so stupid
This is so stupid. Facts are stubborn and the fact is Cozine has no investment in the casino industry. case closed. now if we could only get Chris Christie to release his schedules as US Attorny, find out why his brother got off scott free, get him to register his car properly without flashing his credentials to the officer that stopped him, create a plan for how to move NJ forward...I have maintained that JSC will win in the end, God Forbid if he doesnt
Corzine will spend the rest of the week defending himself
. . . from these accusations.
About time the shoe went on the other foot.
SJ Blue
You couldn't be more wrong on every point. But you are consistent...he doesn't have to own a casino stock for it to be a conflict. Read the law my friend...and now the Wizard of Wall St claims to be ignorant of the many ways these funds intermingle...this guy is toast in 42 days....Thank God
"Don't let facts get in the way"...Corzine '09
Still waiting
Another day, another distraction to the real issue of property taxes. I don't see any candidate discussing ways to cut taxes. It is sad.
the Law
I did read the law, JSC's blind investments are fine.
Why does Corzine do these
Why does Corzine do these things? He has more money then Roosevelt (literally) and he doesn't understand. It is not whether this hedge fund is really tied in. It's the Appearance of impropriety. The near occasion of sin in this case. He just has a tin ear when it comes to the symphony of Public Duty. He may not have even known and if he just said "look I have tons of investments" we would all just say fine. But no. He has to make a Grand Stand and thereby hands an issue to his opponent. That's why it just doesn't work. It is the Democrat Dan Quayle. No matter how hard he tries he is going to end up with egg on his face! Atlantic City casino investments show a "clear conflict of interest and it is illegal.
online gambling is legal.... in asia countries?
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