Gov. Cuomo blocks all pay-to-play deals with New York pension fund

04/27/2011 | Bloomberg · (subscription required)

New York Gov. Andrew Cuomo ordered the state's Insurance Department to adopt regulations to permanently ban "pay-to-play" arrangements to get business with the state's pension fund. The term refers to government contractors making political contributions or hiring people with influence within the state government, including lobbyists, elected officials and retired officials, to help them get deals with the pension fund. The announcement follows the sentencing of former state Comptroller Alan Hevesi, who accepted almost $1 million worth of gifts in exchange for giving preferential treatment to a Los Angeles money manager.

View Full Article in:

Bloomberg · (subscription required)

Published in Brief: