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Re: Manzo: Asks blind trusts for big earners with power
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Home away from home
 
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This guy is like Charlie Schumer with less brains, success and media access. "Currently, state legislators can invest as they please in the market, but they have to disclose their investments annually. Manzo said many legislators disclose ownership of a mutual fund, without divulging the fund's portfolio." Manzo might want to learn that mutual funds' portfolios are public information and can easily be obtained.
If "exorbitant wealth is often the product of a diverse portfolio" then doesn't the very diversity of the portfolio make one less likely to benefit any given company that one is invested in? I worry a lot more about some broke-ass politician taking bribes from local businessmen than a rich guy with an index fund. The comic relief is, "I am certain that this measure will work to preserve the integrity of elected officials..." Certain? Preserve? Quote:
Posted on: 2007/1/18 2:34
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Re: Manzo: Asks blind trusts for big earners with power
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Newbie
 
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Funny, isn't the guy who would need to sign that bill into law a billionaire?
Posted on: 2007/1/17 13:12
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Re: Manzo: Asks blind trusts for big earners with power
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Just can't stay away
 
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Just to save time, I automatically oppose anything Manzo is for.
Posted on: 2007/1/16 21:10
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Re: Manzo: Asks blind trusts for big earners with power
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Quite a regular
 
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Is it just me or does Manzo love to waste time. He's such a blowhard and I have never cared for his opinion. How he got elected is still a wonder to me....
Posted on: 2007/1/15 3:57
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Re: Manzo: Asks blind trusts for big earners with power
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Home away from home
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I don't like them telling officials where to put there money but I do agree with disclosure of their investments account for review.
Posted on: 2007/1/14 23:30
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Re: Manzo: Asks blind trusts for big earners with power
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Home away from home
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I don't know if I agree or disagree, but wouldn't basing it on net worth as opposed to annual income be more effective?
Posted on: 2007/1/14 22:53
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Manzo: Asks blind trusts for big earners with power
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Home away from home
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Asks blind trusts for big earners with power
JARRETT RENSHAW -- JERSEY JOURNAL -- JAN 13 Assemblyman Lou Manzo, D-Jersey City, wants to require all state and local officials - elected and non-elected - who make at least $1 million annually to put their investments into a blind trust. Under a bill Manzo introduced this week, wealthy government officials would have to turn over control of their investments to an individual or company, thus avoiding conflicts of interests, the assemblyman said. The requirement would extend from city officials to the governor. "As exorbitant wealth is often the product of a diverse portfolio that may potentially overlap investing interests with governmental business, I am certain that this measure will work to preserve the integrity of elected officials who have accumulated wealth and choose to serve the public," Manzo wrote in a letter to Assembly Speaker Joe Roberts. Currently, state legislators can invest as they please in the market, but they have to disclose their investments annually. Manzo said many legislators disclose ownership of a mutual fund, without divulging the fund's portfolio.
Posted on: 2007/1/14 19:46
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