Submitted by Dunne, Jul 19, 2007 09:40

Any knock-around New Yorker knows that ALL the city and state pension funds are a source for political contributions if not personal agrandizement. A virtual conflict of interest exists between the city and state comptrollers' offices and the money managers hired to invest the funds assests. Although the state comptroller has the sole responsibility to oversee the state funds management, the city comptroller has "revokeabe power of attorney" which gives the city comptroller de facto sole control of the city pension funds. When you consider that Donna Anderson, former Chief Investment Officer for the City Comptroller, Bill Thompson, left the Comtroller's office to work for Progress Trust, a major fund manager and Horatiop Sparks, former Assistant Comptroller for Pensions left to work for Yucipa , another another major pension fund manager, it is clear that the city comptroller's officecould stand some watching too. We can't just rely on the Department of Investigation since Mr. Sparks left the comptrollers office for Yucipa while still under investigation by DOI. Whatever happened to that investigation is a mystery.

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