Who's on first?
By Wally Edge
Three weeks after Governor Jon Corzine renominated three former Lehman Brothers executives to the State Investment Council, the state has filed a lawsuit against top officials of the now-bankrupt Lehman Brothers Holdings Inc., alleging that "misrepresentations by the company led the Division of Investment in the Department of Treasury to purchase $182 million in Lehman securities in April and June 2008 that resulted in an estimated $118 million in losses."
On February 23, Corzine renominated Jose Claxton, Montgomery Cerf, and Erika Irish Brown - all former Lehman executives -- to the New Jersey State Investment Council, which has lost an estimated $25 billion of state pension funds since July.
"With this suit we intend to hold Lehman executives and directors accountable for the fraud and misrepresentation that caused more than $100 million in losses to New Jersey's pension funds," Corzine said today.
Contributors
Wally Edge
South Jersey Democrats are touting Cinnaminson native Anthony Mazzarelli, the head of the emergency medicine department at Cooper University ... >
Bob Torricelli
Everybody needs to start a new job with a list of priorities and Chris Christie is no exception. There might be a thousand things that need to get ... >
Michael Patrick Carroll
Political discourse in America contains much in the way of intellect or intellectual honesty. One considers the Federalist Papers with wistful awe: ... >
Jeff Michaels
The NJ gubernatorial election result demonstrates that Governor-elect Chris Christie resurrected the center-right voter coalition of Republicans, ... >
Richard LaRossa
With a convincing win in defeating an encumbent Governor, why were there no coattails? >
Alan Steinberg
As in any transition, speculation is rampant as to whom Governor-elect Chris Christie will appoint as Chief of Staff, State Treasurer, and Attorney ... >
Dr. Joseph Marbach
Now that the dust has finally settled after the grueling campaign for governor, there are a number of lessons that we can draw from this ... >
Carla Katz
When he was growing up, Chris Christie's folks must have taught him that when he went to a new playground, he should pick a fight with the ... >
Joey Novick
There has been a lot of talk about putting the issue of marriage equality on the ballot in New Jersey. This is something that Assemblywoman ... >
Murray Sabrin
New Jersey voters repudiated Governor Jon Corzine's policies of the past four years on November 3rd. Republican Chris Christie and Independent ... >
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