Great News: Al Gore Firm Now Managing Hundreds of Millions in NYC Pension Funds

Posted by on Jun 18, 2012 at 9:14 am
goracle

This probably won’t end well. You’ve got the NYC Comptroller, currently under investigation for shady campaign donations, handing over millions to a group run in part by environmental wacko Al Gore.

Of course the part about Gore was kept hush hush until now.

Here’s an inconvenient truth: New York is greening the wallet of Al Gore.

Embattled city Comptroller John Liu has delivered a $16.56 million contract to the former vice president’s environmentally friendly investment firm, Generation Investment Management, to help manage hundreds of millions of dollars in city pension funds, The Post has learned.

The Comptroller’s Office had previously awarded Gore’s firm $12.8 million in pension-fund business under Liu’s predecessor, Bill Thompson.

Since 2009, state Comptroller Tom DiNapoli has approved $6 million in contracts to the firm, co-founded and chaired by Gore. Generation now manages nearly a half-billion dollars of state pension-fund investments, records show.

In total, that’s more than $35 million in greenbacks to Gore’s firm.

Liu’s office proposes investment-management contracts to the board of trustees of the city’s five major pension funds. Generation is an investment manager for two of them: the New York City Employees Retirement System (NYCERS) and the Police Pension Fund.

But the Gore connection has been a closely held secret.

One NYCERS trustee said he didn’t even know Gore’s firm was a city investment manager.

“That’s been way under the radar. I was unaware of it,” said NYCERS trustee Gregory Floyd, head of Teamsters Local 237.

Amazing how much money these corrupt Democrats are able to line their pockets with, isn’t it?

 

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