Saturday, January 10, 2009

Man Accused of Felony Seated in NY Senate and Bernard Madoff Remains Free on Bail

From New York NOW:
The New York chapter for the National Organization for Women is ripping Senate Democrats for seating Sen. Hiram Monserrate of Queens as he faces felony assault charges for allegedly slashing his girlfriend in the face.

“By all accounts, Hiram Monserrate, also accused of cutting his girlfriend with a broken glass, does not deserve a seat in the NYS Senate,” the group said in a statement.

“Further, Monserrate’s appointment as the Chair of the Consumer Protection Committee is a slap in the face for every woman in New York State. Does the NYS leadership really believe that rewarding Monserrate will win them points in the minds of voters?”

Monserrate, as the New York Times put it, showed up to Albany on Wednesday “cool and collected,” and told reporters, “I’m here, and I’ll be here for the long haul.”

Also, an update on my And So This Is Christmas post regarding the Madoff scheme and how it's affecting our lives. We've made the NY Post - A number of upstate roofers, carpenters and plumbers unions reportedly may have lost $150 million in pension funds to Madoff.

The Carpenter and the Steamfitter Unions are keeping their members updated as news comes in. We aren't getting any information from the Roofer's Union, but rumor is that 91% of the pension was invested with Madoff and the retirees can expect to receive their pension payments for approximately 5 more months, after which, the Pension Fund will be broke and the payments will stop. Then what? I wish I knew.

The fact that this guy is not in jail is unfathomable. I'd also like to know why anyone would put 91% of a fund in one investment vehicle. That's just nuts - especially when it's not your money. Lots of questions, but no answers and although the newspaper has printed a story about a meeting to be held on January 17, 2009, we've not received any notification from the Union to date.

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