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Carter Wrenn posted on March 12, 2006 12:58
State Treasurer Richard Moore led the pack of Democratic candidates running for Governor by raising an impressive $1.28 million for his campaign last year.
But retired Deputy State Treasurer, Charles Heatherly, has raised some interesting questions about how Moore raised that $1.28 million. According to Mr. Heatherly, “Much of the money came from people who do business with his [Moore’s] office. While that might appear to be a conflict of interest, it is legal under the rules set by the General Assembly” (News and Observer 3/3/06).
I might add those rules were actually written by the Democrat majorities that control the State House and Senate.
Mr. Heatherly adds, “Since becoming Treasurer in January 2001, Moore has expanded the number of outside managers hired to manage public pension funds and has increased the manager’s compensation.”
Which is another way of saying that by hiring more fund managers, Treasurer Moore increased the number of people he can raise money from.
Heatherly continues, “The fact that the custodian of North Carolina’s pension funds is allowed to solicit and collect campaign contributions from fund managers who serve at his pleasure raises a serious issue of fiduciary accountability. Perhaps we should be impressed that Moore has persuaded hundreds of out-of-state residents, including two dozen persons who list their occupations as ‘homemaker,’ to contribute the $4,000 maximum allowable contribution to his political campaign. It would be commendable to learn that these folks in widely dispersed locations throughout the United States, including Iowa, New York, New Jersey, Connecticut, Florida, Missouri and California, gave to his campaign primarily because of their concern for good government in North Carolina.
“In the case of some of the homemakers, however, the fact is they share a last name and a home address with another contributor whose occupation appears to be connected to the pension investment business gives rise to other concerns.”
In other words, to use a euphemism, Moore is ‘shaking down’ pension fund managers for campaign contributions. Which is perfectly legal.
Heatherly says the solution is simple. “First, the General Assembly should enact a law prohibiting the custodian of public pension funds from accepting contributions or any gifts from those he or she hires to manage funds.”
My question is, Why hasn’t the legislature already done that? The answer is because this is how the Democrats in the Governor’s Mansion and the General Assembly have done business for years. This is how they raise the money to pay for their political campaigns.
And what does Treasurer Moore have to say to defend himself?
His Chief of State Staff, Stacey Phipps responded on his behalf. Phipps wrote, “Every elected official in North Carolina, such as the Governor, Lt. Governor, Attorney General, and members of the General Assembly, receives campaign contribution from individuals or organizations that either do business with or are regulated by the State.”
Now, there’s a ringing defense. Everybody ‘shakes down’ the people who do business with the State, so it’s fine.
I don’t see much difference between what House Speaker Jim Black has done and what Richard Moore is doing. It certainly sounds like Moore is practicing his own version of ‘pay to play.’
The only difference is Black, at last, has come out for banning donations from, and fundraising by, lobbyists. Richard Moore, Governor Easley, and Senate Leader Marc Basnight haven’t done that. And the only logical conclusion to draw from their silence is, to them, it’s fine to let ‘pay for play’ continue to be business as usual in North Carolina.
Thursday, March 30, 2006 2:01 PM
6 Comments » Unless Mr. Moore has done something to piss off the owners/editors of the NandO, he has nothing to worry about. Whereas the owners/editors of the NandO are very hungry (or horny) for Speaker Black. Perhaps this is “payback” for not listening (or dis’ing) the NandO and going ahead and bringing a Lottery to this State. Funny, that the NandO doesn’t even mention the Governor on this issue, as he did sign the lottery into law, only Speaker Black. If there is a story, and it is not reported, then is it really a story? Uncle Ruckus Gadfly Comment by Uncle Ruckus — March 8, 2006 @ 1:57 pm Carter, Why are you not also skewering the Republicans in Congress whose shakedown of those who do business with the feds makes what is going on in NC look like chicken feed. How about Liddy Dole and your friend Mark Stephens at the RSCC. The have raised far more then 1.28 million from people and companies with a direct financial interest in Federal Legislation, yet I noticed you didn’t include them in your tirade. Or perhaps Rep. Duke Cunningham, who had a menu for personal bribes for defense contractors. Something about glass houses and stones comes to mind. Comment by WhalerCane — March 8, 2006 @ 3:44 pm “The have raised far more then 1.28 million from people and companies with a direct financial interest in Federal Legislation…” Is there anyone on the planet who does NOT fit this description? Comment by Jim Stegall — March 8, 2006 @ 4:31 pm The N&O is also ticked off at Jim Black because Black kept the N&Os liberal fair-haired boy Dan Blue out of the Speaker’s seat after he lost it in 1994 to the House Republican Harold Brubaker. But also, Mr Wrenn, in regards to your comment: “I might add those rules were actually written by the Democrat majorities that control the State House and Senate.” In 1994 and 1996, House Republicans under Speaker Brubaker had control of the State House majority. And the Republicans did nothing to reform campaign finance, lobbying or ethics reform. In fact, Brubaker fell under extreme scrutiny and investigation by the FBI, SBI and State Board of Elections over his campaign fundraising tactics. (Where is he today on these topics? He has said nothing!) What better time for the House Republicans to have led a charge to make meaningful reforms. But no, the Republican leadership buried Rep Julia Howards (R) reform bill in committee. Now look at the feds - the other night CNN reported that the Senate Committee looking into establishing an Ethics Office voted against such an effort - led by the Republican majority vote. With all the mess in DC surrounding Tom DeLay and others - one would think the Republicans would lead the charge for reform. But no, just like in NC in 1994 and 1996 - Republicans did nothing to make changes. I agree - Richard Moore has had his hands too deep in the pockets with the people who hold contracts with his office. Comment by Abe — March 8, 2006 @ 6:13 pm Why is it that when a Democrat is caught with his hand in the cookie jar the True Believers cannot admit or concede something is amiss without the requisite “they all do it”? Right here, right now it’s 2006. the GOP has not had control of the legislature since Reconstruction. For 2 years they had one half of the legislature, that’s it. The GOP has had effective control over nothing in this state for over a hundred years. You folks are tedious. Comment by JohnB — March 8, 2006 @ 7:10 pm Well when the Republican Party can get some new leadership with new thinking - instead of Blount Hawke and Pope tribe that only see things one way - their way or the highway - they might stand a chance. But continue the internal fights and witchhunts to weed out anyone that doesn’t agree with his lordship almighty Pope the Republicans will stay divided. The Moore County Republican Party had it correct when they sent the message to the State Republican Party the other day - stay our of our local primary campaigns. Comment by Abe — March 9, 2006 @ 12:49 pm
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