"Knowledge will forever govern ignorance

 and a people who mean to be their own governors

 must arm themselves with the power which knowledge gives."

Monday, April 18, 2005

Jon Corzine, The Lodestone

Jon Corzine has only been in politics for about five years and yet with each major breaking political scandal in New Jersey, there's an association with Senator Corzine. Let us be clear, Jon Corzine has never been charged with a crime, but he sure seems guilty of being a poor judge of character and a willingness to skirt the spirit of election laws.

There is a certain arrogance that often creeps into the behavior of the wealthy and powerful. And it is this egotism that leads to a rationalization of unethical and at the extreme, criminal behavior.

A case in point is Corzine's teaming up with Charles Kushner in an attempt to buy the Nets basketball team. Could Corzine have chosen a more corrupt person as a business partner?

Corzine expressed interest in buying the Nets and explained why he believed he was qualified for the job:
Millionaire Senator Jon Corzine says that he might be interested in buying the New Jersey Nets. When asked why, Corzine explained that after several years in the Senate, he feels qualified to manage a bunch of spoiled, overpaid prima donnas.
Jon Corzine hooks up with wealthy New Jersey businessman and major contributor to the Democrat Party, Charles Kushner to buy the Nets. In keeping with Corzine's philosophy of taxpayer investment in private businesses, the duo looks to the State of New Jersey for a bit of help:
We start with last week's news that U.S. Sen. Jon Corzine, D-N.J., and real estate developer Charles Kushner were considering making a bid to buy the New Jersey Nets. That sounded pretty good. The men, it seems, have the money to buy the Nets and keep the team in New Jersey. But now it surfaces that the senator and developer want the state to contribute $125 million to help them purchase the team.
As we’ve written numerous times, taxpayers are only asked to become "silent partners" in business ventures that can't attract sufficient funds from private investors. The Corzine-Kushner partnership wanted New Jersey's taxpayers to kick in because investment in the Nets basketball team was risky and a potential money loser.
The Star-Ledger, the Asbury Park Press of Neptune and The Record of Bergen County all reported Monday that the partners sought the help because they are wary of the financial problems facing the team. The Nets, who played in the NBA finals the past two seasons, have not made money and are expected to operate at a loss this year because of a rising payroll.
It also seems that Corzine may have needed some financial help from New Jersey because he may not have as much money as we have assumed. After spending over $60 million on his Senate bid, $40 million more in charitable and political donations to further his "public service” ambitions, Corzine may have also paid a hefty price to divorce his wife:

A former chairman of Goldman Sachs investment bank, Corzine is worth a reported $300 million though he said he expects to forfeit half of his fortune as a result of his pending divorce. Kushner is wealthy as well. As chairman of Kushner Companies, he oversees one of the New York City region's leading privately held real estate organizations.
The Corzine-Kushner partnership ultimately would have have to go without help from the state and their final bid for the Nets was placed in January of 2004. In a case of “isn’t it a small world” one of the bankers handling the sale just happened to work for Goldman Sachs.

In a dramatic attempt to keep the team in New Jersey, Kushner, the well-connected developer, and his partner, U.S. Sen. Jon Corzine, submitted an all-cash offer of $300 million just before 3 p.m. yesterday. It was spelled out in a one-paragraph fax sent to Stier and one of the bankers handling the sale, Joe Ravitch of Goldman Sachs.
The Corzine-Kushner bid came too late to be taken seriously and a Brooklyn investor won the right to buy the Nets:

Bruce C. Ratner, the New York real estate developer who wants to move the New Jersey Nets to an arena in downtown Brooklyn, reached a tentative agreement to acquire the team for $300 million, defeating a similar offer by Charles Kushner and Senator Jon S. Corzine of New Jersey, the Nets' ownership group confirmed tonight.
The next thing you know one half of the Corzine-Kushner partnership is pleading guilty to a slew of federal charges:

Real estate mogul Charles Kushner pleaded guilty in federal court to 18 charges, including retaliating against a federal witness and violating campaign finance laws. He also pleaded guilty to 16 counts of filing false tax returns through various real estate partnerships..
Charles Kushner is now serving a two-year prison sentence in Alabama and has paid some pretty stiff fines for his various criminal acts:

A federal judge sentenced multimillionaire developer and Democratic Party political donor Charles B. Kushner to two years in prison Friday, declaring Kushner's wealth, power and widespread charity don't trump criminal acts that included tax fraud, campaign-finance violations and witness retaliation.
Kushner was charged with hiring a hooker to have videotaped sex in a scheme to silence potential witnesses. The guy caught on tape was Kushner's brother-in-law and the tape was sent to Kushner's sister.

Kushner, who has given more than $5 million to Democratic campaign committees in New Jersey during the past decade, was ordered this month to pay at least $12.5 million in fines for violating federal banking laws. He also paid $508,900 in 2004 — the fourth largest fine of its kind — to federal regulators for campaign-finance violations.
Is Jon Corzine the man to clean up political corruption in New Jersey? If not the instigators of corruption, New Jersey Democrats have certainly managed to attract the worst elements in the state and Corzine seems to be the lodestone. Is there any reason for us to assume a Governor Corzine would lose his unrivaled attraction?


At 7:50 AM, Anonymous Anonymous said...

Corzine did deed over homes in Sagaponack, NY and Summit, NJ to Joanne for the sum of one dollar....Life is tough.....wonder about the home in Telluride...I'm just wondering if he paid any real estate property transfer taxes...We should all be as "broke" as he is....I was thinking of suggesting to him that maybe he should move Drumthwacket next to the Lake Cody Memorial Parking Lot in Trenton and instead of calling it "Wuthering Heights," he should rename it "Passing Wind" based upon the available plot characters of the area.

At 11:49 AM, Anonymous Anonymous said...

Scott Morrison, a South Jersey financial adviser was fired by one of Wall Street's top firms (Morgan Stanley?) after he publicly questioned whether Commerce Bancorp has been hurt by negative publicity surrounding one of its executives, George Norcross. Never ends it seems.

At 12:33 PM, Anonymous Anonymous said...

Re: The Jewish National Fund's honoring of Jim McGreevey, George Norcross, and Donald Trump (2001). Bob Torricelli and Jon Corzine were both there, the latter as master of ceremonies. The best line of the night belonged to Norcross, who described Corzine as "a man I met some $45 million ago."

-Now what does that tell you?

At 2:11 AM, Blogger 贝贝 said...

The Tax Return Crack-Up<3>
Granted, there are usuallyMicrosoft Office 2010write-ups when presidential contenders make their tax returns available, but the coverage falls far short of the Office 2010
full court press (pardon the pun) that the Clintons have received. What's Microsoft Office 2007different now?Office 2007One possibility is that most upper middle class Democrats, and therefore most Microsoft OfficeOffice 2007 keyeditors and reporters of our nation's big papers as well as Office 2007 downloadtelevision producers, are Obama supporters who think that Hillary should hurry up Office 2007 Professionaland drop out of the race already.Microsoft outlook
Microsoft outlook 2010Whom elite liberals are pulling for really does shape political coverage in ways


Post a Comment

<< Home

 Contact Us

  • Email Us
  • Blog Roll Us!



  • Atom Feed
  • Bloglines
  • Feedburner
  • Feedster
  • Add to Google
  • Add to My MSN
  • Add to My Yahoo
  • News Is Free

    Recent Posts

  • Gorbachev Kids Codey
  • Lautenberg Has Become The Senate’s Number One Kook...
  • Reading The Tea Leaves
  • Meet The Enlighten-NewJersey Gang
  • DeLay Can’t Hold A Candle to Corzine
  • Tax Revolt!
  • We Want Our Bread, Not Circuses
  • Corzine’s Demagoguery On Social Security
  • The Fine Print Of The Giants Deal
  • Class-War Revelation


  • November 2004
  • December 2004
  • January 2005
  • February 2005
  • March 2005
  • April 2005
  • May 2005
  • June 2005
  • July 2005
  • August 2005
  • September 2005
  • October 2005
  • November 2005
  • December 2005
  • January 2006
  • February 2006
  • March 2006
  • April 2006
  • May 2006
  • June 2006
  • July 2006
  • August 2006
  • September 2006
  • October 2006
  • November 2006
  • December 2006
  • January 2007
  • February 2007
  • March 2007
  • April 2007
  • May 2007
  • June 2007
  • August 2007
  • September 2007
  • October 2007
  • November 2007
  • December 2007
  • January 2008
  • February 2008
  • April 2008
  • November 2008
  • January 2009
  • August 2009
  • September 2009
  • February 2012

    Online Journals

  • National Review

  • Opinion Journal

  • Real Clear Politics

  • Weekly Standard

  • Blog Roll

  • A Blog For All
  • Althouse
  • Ankle Biting Pundits
  • Barista of Bloomfield Avenue
  • Betsy's Page
  • Blue Crab Boulevard
  • Blogs For Condi
  • Bob the Corgi
  • Brainster's Blog
  • BuzzMachine
  • Captain's Quarter's
  • Cinnaman
  • Coalition of the Swilling
  • CWA-NJ
  • Dino's Forum
  • Daily Mail
  • Don Surber
  • DynamoBuzz
  • eCache
  • Exit 4
  • Fausta's Blog
  • GOP Bloggers
  • Instapundit
  • Joe's Journal
  • Kate Spot
  • Kausfiles.com
  • Little Green Footballs
  • Michelle Malkin
  • More Mnmouth Musings
  • Parkway Rest Stop
  • Patrick Ruffini
  • Polipundit
  • Power Line
  • Right Wing News
  • Roger L. Simon
  • The Blue State Conservatives
  • Riehl World View
  • Red Jersey
  • Right, Wing-Nut!
  • Sid in the City
  • Tiger Hawk
  • The Truth Laid Bear
  • Tim Blair
  • Wizbang

  • Sid in the City

    Majority Accountability Project


    New Jersey Blogs


  • 11th and Washington

  • A Blog For All
  • A Planet Where Apes Evolved From Man?!?
  • Armies of Liberation
  • Atlantic Highland Muse
  • Attack of the 15.24 Mete

  • Barista of Bloomfield Avenue
  • BeLow Me
  • Big Windbag
  • Blanton's and Ashton's
  • Blue State Conservatives
  • Burning Feathers
  • BuzzMachine

  • Clifton Blogs
  • Coalition of the Swilling
  • Cobweb Studios
  • CoffeeGrounds
  • Constitutional Conservative
  • Confessions of a Jersey Goddess
  • Corzine Watch
  • Crazy Jackie
  • Cresting Acrocorinthus
  • Cripes, Suzette!

  • Daniella's Misadventures
  • Did I Say That Out Loud
  • Dojo Mojo
  • Dossy's Blog
  • Down the Shore
  • DynamoBuzz

  • eCache
  • Enlighten-NewJersey
  • Eye On Hoboken
  • Exit 4
  • Exit Zero
  • Extreme-Psychosis

  • Fausta's Blog
  • Fausti's Book Quest
  • Fractals of Change
  • Frenchtown NJ Blog

  • GiggleChick
  • Gregg Gethard's Amazing Personal Journey
  • goethe re scape

  • Hoboken Rock City

  • IamBillPower
  • If this is paradise, I wish I had a lawn-mower
  • Imaginary Therapy
  • Inadmissible Evidence

  • Jersey Beat
  • Jersey Perspective
  • Jersey Side
  • Jersey Style
  • Jersey Writers
  • Joe's Journal

  • Karl's Corner
  • Kate Spot

  • Laughing At The Pieces
  • Likelihood of Confusion
  • Liss Is More

  • Mamacita
  • Mary's Lame Attempt at Fame
  • Media in Trouble
  • Michael Carroll
  • Mister Snitch!
  • MucknMire
  • My Life as a Rabid Blog
  • My New Jersey

  • New Jersey Eminent Domain Law
  • NJ Conservative
  • NJ Fiscal Folly
  • New Jersey For Change
  • New Jersey Weblogs
  • NJ Spoken Word
  • Northeast Corridor

  • Parkway Rest Stop
  • Philly2Hoboken.com
  • Poetic Leanings
  • Poor Impulse Control
  • Professor Kim's News Notes
  • Property Tax NJ

  • Rain Angel
  • Riehl World View

  • Shamrocketship
  • Shipwrecks
  • SloppyDawg
  • Sluggo Needs a Nap
  • SmadaNeK
  • Static Silence

  • Tami,The One True
  • Tammany on the Hudson
  • Tequila Shots For The Soul
  • The Art of Getting By
  • The Center of New Jersey Life
  • The Daily Fry
  • The Duc Pond
  • The Jersey Shore Real Estate Bubble
  • The Joy of Soup
  • The Mark(ings) of Zorro
  • The New Wisdom
  • The Nightfly
  • The Opinion Mill
  • The Pink Panther
  • The Political Dogs
  • The Rix Mix
  • This Full House
  • Tiger Hawk
  • Tomato Nation
  • Toxiclabrat
  • Twisty

  • Unbillable Hours
  • Usdin.Net

  • Where Is The Remote
  • Wine Goddess

  • Xpatriated Texan

  • Links

  • NJ Governor
  • NJ Legislature
  • Bob Menendez Information

  • Blog Rings

  • Blog Explosion
  • Blog Directory
  • Blogsnow
  • Blogwise
  • Blogstreet
  • Blogshares
  • Blogarama
  • Blog Digger
  • Daypop
  • Globe of Blogs
  • Blog Search Engine

  • Ecosystem Status

  • Who Links Here