NM reacts slowly to ethics scandal.

In the Journal this morning, link, a report that New Mexico is "reacting slowly" to a recent revelation in the scandal surrounding state investments.

To make a long, and ongoing, story short; a guy, one Saul Meyer plead guilty in New York State to criminal activity with respect to the investment of state funds. He had entered into a plea agreement requiring him to tell the truth about what was going on. Part of the truth he told included the following;

He had, on numerous occasions, urged investments that he knew would prove lucrative for politically connected individuals in New Mexico, even though those investments were not necessarily in the best economic interest of New Mexicans.

Bill Richardson, I assume, knows the names of those "politically connected individuals". He has not shared them with stakeholders. According to the Journal; Richardson assures us that he

"has taken strong, aggressive action to deal with the problems related to state investments."

Really? If his actions are so strong, why can't we see them?
Why are they such a big secret?

For all we know, his "strong actions" only means he gathered together all of the players, and reminded them, very strongly, that if they don't get their shit together, their gravy train is going to leave the tracks.

State Investment Officer Gary Bland, the highest paid exempt state employee, $307,199.36 per year, link, had an absolute responsibility to keep state investment funds from being ripped off. If not, why not?

His two cents worth, according to the Journal was, it is premature for anyone to point fingers.

"With three separate agencies investigating the issues and with (an independent audit) in progress, it might be wise to wait for the results and not rush to judgment."

According to the Journal, Bruce Malott, the Chairman of the New Mexico Educators' Retirement Fund offered;

... he (Malott) has served for more than a decade on the Educational Retirement Board and still has the blessings of the rest of the fund's board, which recently re-elected him chairman.

Even though, during that "more than a decade", retirement investment funded lost millions of dollars in crooked dealings while he and those board members did nothing to protect taxpayers.

Malott continued;

"I think they (his cronies on the board) are in the best position to determine what is best for our fund, and to make judgments about the value of my contribution."

Except that that the rest of the board shared the responsibility to protect taxpayers as well. They failed as well. They are covering their asses as well. Who cares what they think?

Fair question at this point; where is Diane Denish? Where is her "strong action"? Where is her outrage? Why does she have nothing to say about the ongoing cover up in an administration that is at least partly her own?

The Journal reports, House Minority Whip Keith Gardner, R-Roswell, said the lack of response at the Capitol is a sign that New Mexicans are desensitized about what he called a culture of corruption.

"It's horrible that this culture even exists, and it's even worse that people are getting used to it," Gardner said.

This isn't a slow reaction, it is a no reaction.

Whose responsibility is it, to get people past their malaise? Whose responsibility is it to get the people worked up enough to do something?

Well, I guess that would be us, the free press, the fourth estate.




photo Mark Bralley