Bad investment

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The NYC teacher’s pension fund has divested it’s portfolio of gun companies.  With $46.5 billion in assets, dropping a measly $13.5 million in investments is nothing, and probably goes on all the time as part of managing a fund that size.  Nevertheless, Comptroller John Liu did try to score some cheap political points:

“… “There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye,” said Comptroller Liu. “Our investment portfolio gains nothing by doing business with these firms, and this is a sound decision that sends an important message about our commitment to addressing the plague of gun violence in every possible way.” …”

According this post at GothamSchools, trustees are legally required to only invest or divest in shares that are in the best interest of the fund’s long-term health.  Given that the firearms industry is one of the few sectors of the economy doing well right now it must have been hard for Liu to say that with a straight face.

Interestingly, the vote to divest was not unanimous:

“… Raymond Sarola, a senior policy adviser in the mayor’s office of pensions and investments, said in a statement, “Pension decisions should rarely, if ever, be based on other criteria except what’s best for pensioners, which should benefit taxpayers, as well.” …”

He’s right.  It’s just really ironic that a guy who works for Mayor Mike is the one who said that.

Maybe Liu deserves the benefit of the doubt and we should take him at his word that he is really looking out for the pensioners best interests.  So, hows the rest of his investment strategy paying off?

“Comptroller John Liu has awarded $6 million in contracts to manage city pension funds to a firm under investigation by New York federal and state prosecutors over claims it ripped off millions from public-employee pension systems around the world, The Post has learned. Boston-based State Street Corp. has faced litigation from state governments in Washington and California, as well as the United Kingdom, dating back to 2009 — each alleging the company fraudulently overbilled their retirement funds during so-called “foreign exchange” trades. But that didn’t stop Liu from doing business with the company — his administration disclosed the contract in Friday’s public record …”

Well, maybe he’s just got a lot on his mind right now:

“When then-City Councilman John Liu won his landmark victory for city comptroller in 2009, his campaign celebration was electric, with the collective energy of hundreds of public workers who saw him as their new champion … But in the time since that halcyon night, some in labor might be in the market for a new champion. Liu is increasingly on the defensive since the arrest of his campaign treasurer, Jenny Hou, on campaign finance fraud charges more than a week ago …

You can smell it

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Another reporter appears to have realized that anger over Cuomo’s gun law isn’t going to go away.  Buffalo News Urban Affairs Editor Rod Watson writes:

“… In a nation founded with guns to oppose government tyranny, it shouldn’t surprise anyone that shooters won’t let Gov. Andrew Cuomo’s gun-control power play fade from the spotlight.  Tuesday’s rally in Albany and another slated for Feb. 28 prove that the issue has legs.  So does his drop in a poll after the law was rammed through using emergency provisions to prevent debate.  Put aside for a moment the irony of the governor now saying a law passed in secret will become more popular once people know more about it.  With other bills, that might be true.  But in this case, the more the public learns what a semiautomatic gun is – and what it isn’t – I’m betting the less likely they are to think Cuomo made a reasoned decision, rather than a political one …”

That’s what I told the Times more than two weeks ago:

“… “The more people see about this, the angrier they are getting,” said Jacob J. Rieper, the vice president of legislative and political affairs for the Rifle and Pistol Association.  He recounted sympathetic phone calls from as far away as Nebraska, where a man pledged to collect donations at his gun club to support a legal challenge to the law, and angry messages from New York gun owners who were eager to campaign against the legislators who voted for the measure.  “The bottom line is none of these people thought this through, and it’s starting to stink,” Mr. Rieper said …”

Yes it is.

Blocking government sales

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Some smaller gun makers react to the passage of SAFE.

LaRue Tactical announced they will only sell items to government agencies that are available to the general public:

“… Effective today, in an effort to see that no legal mistakes are made by LaRue Tactical and/or its employees, we will apply all current State and Local Laws (as applied to civilians) to state and local law enforcement / government agencies. In other words, LaRue Tactical will limit all sales to what law-abiding citizens residing in their districts can purchase or possess …”

Next, Olympic Arms cut off all government sales to New York:

“… Due the passing of this legislation, Olympic Arms would like to announce that the State of New York, any Law Enforcement Departments, Law Enforcement Officers, First Responders within the State of New York, or any New York State government entity or employee of such an entity – will no longer be served as customers …”

Today, Templar Custom is stopping all government sales as well:

“… Templar Custom is announcing that the State of New York, any Law Enforcement Departments, Law Enforcement Officers, First Responders within the State of New York, or any New York State government entity or employee will no longer be served as customers …”

Admittedly, these are small companies who probably don’t do that much business in the state to begin with.  Hopefully some of the larger manufacturers will follow suit.

More lawsuit press

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Tom gives a brief update on the soon-to-be-filed lawsuit against the SAFE Act:

“… [NYSRPA] will file a lawsuit against the state, targeting five or six points of the new law. He also said the association is working with noted constitutional attorney Stephen Halbrook to decipher the law and make it easier to understand …”

65,376,373

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65,376,373.

That’s the total number of background checks since February 2009, Barack Obama’s first full month of his presidency.

RINOs admit real agenda

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More proof that the antis real target isn’t a gun ban, but prohibition on private transfers:

“A coalition of House Republicans is willing to thwart the National Rifle Association’s opposition to broadening background checks for U.S. gun purchases. That may be President Barack Obama’s best chance for advancing tougher gun regulations this year.   Representatives Patrick Meehan and Michael Fitzpatrick of Pennsylvania are among Republicans expressing openness to expanding the background-check system, including mandatory screening of buyers at gun shows …”

This is the same thing Schumer and MAIG have said.  DiFi’s gun bill is a smokescreen as they know it doesn’t have the votes.

“… Expansion of background checks for gun purchasers is gaining bipartisan support in Congress and among the public while restrictions on weapons may confront stiffer opposition in Congress.  A Quinnipiac University poll released Feb. 7 found more than 9 in 10 Americans support universal background checks …”

I call BS on that.  That’s just the antis trying to get a mantra going.

Drift away

On: By: admin

Fred Dicker has a good column in today’s Post regarding Gov. Cuomo’s recent behavior:

“Gov. Cuomo has veered sharply away from the reform and pro-business policies he followed during his first two years in office and is “adrift’’ … insiders, some of whom have known Cuomo for decades, said the governor has become so obsessed with maintaining what until recently were record-high job-approval ratings that he has refused, for fear of alienating politically potent liberal voting blocs,  to make tough decisions … Cuomo signaled his new direction in a State of the State Address last month that was so devoid of serious, game-changing initiatives that he had to rely on two catastrophes — the Sandy Hook school massacre in Connecticut and the devastation caused by Hurricane Sandy — for its principle news-generating proposals … what support Cuomo still retained in Senate Republican ranks was badly damaged last month when he pressured Dean Skelos, the weakest GOP leader in modern times, to support a tough new anti-gun law that was so politically damaging that state GOP Chairman Ed Cox has publicly denounced it …”

Yep.  What neither Cuomo nor the GOP have yet to publicly acknowledge, assuming they’re even aware of it now, is the outrage over the SAFE Act isn’t going away.  A lot of people still do not understand what was passed into law and when they find out they get very angry.  It is going to bite Cuomo and the GOP in the ass eventually.

Orange Co. Legislature Passes 2A Resolution

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