Wednesday, November 12, 2014

Illinois Governor-Elect Bruce Rauner Received Cash from Firms Managing State Pension Money by David Sirota

“Illinois Governor-elect Bruce Rauner accepted more than $140,000 worth of campaign donations from executives affiliated with firms in which Illinois pension systems have investments, according to documents reviewed by the International Business Times. The campaign donations flowed to Rauner despite state and federal rules designed to prevent pension investment managers from donating to candidates for public offices that oversee state pension systems. As governor, Rauner will now appoint the trustees who oversee Illinois’ pension investment decisions. 

“When IBTimes first presented the campaign finance documents to officials at the Illinois State Board of Investment late last week, they said they had never been asked about the donations. Days later, those officials announced they are now conducting a formal review of the system’s private investment managers to see if they complied with campaign finance disclosure requirements.

“The announcement of the review came at the same time the SEC’s top enforcement official publicly suggested that the agency will be intensifying its scrutiny of the relationship between political contributions and public pension investments. That relationship was a central theme in the Illinois governor’s race when Rauner’s opponents questioned whether his personal campaign contributions and payments by one of his portfolio companies unduly influenced state investment decisions…”

For the complete article from International Business Times, Click Here.

1 comment:

  1. Why would a millionaire investor want to run for governor? Maybe it's not just an ideological battle. Follow the money. Illinois public pensions (or perhaps some kind of future pension-replacement retirement plan) would provide a windfall for friends of Bruce. This might not explain all of Mr. Rauner's motivation, but it certainly reeks of a conflict of interest at best, and perhaps flat-out illegality. What were those Rauner political ads again? Something about Illinois being the most corrupt state in the nation? Meet the new boss, same as the old boss...