As one might expect, taking political contributions from investment firms making big bucks from your state’s pension fund directly into your campaign is highly illegal under Federal law.
Fortunately for Ron DeSantis and other sleaze balls like him the Republican dominated Supreme Court has provided a workaround in the Citizen’s United decision which allows for graft to be laundered through political action committees, in Ron’s case the Republican Governor’s Association, before it is deposited directly into your campaign’s coffers.
That is what the investigative reporters at The Lever allege has happened in Florida and the DeSantis Campaign, much to the financial detriment of Florida seniors:
“Florida governor and Republican presidential hopeful Ron DeSantis has been crusading against “woke” investments for allegedly threatening his state employees’ retirement funds. But the most imminent threat to Florida public employees’ retirement dollars appears to be the massive state pension investments that have gone to some of the Republican Party’s Wall Street donors under DeSantis’ watch.
Despite a federal anti-corruption rule designed to prevent donors from receiving pension investments, private equity executives have donated millions to political groups supporting DeSantis, all while the governor oversaw the transfer of more than $1 billion of Florida public employees’ retirement dollars into these donors’ high-fee, high-risk “alternative investments.”
That’s right, while The Gubernator has distracted Republican voting white seniors by attacking gays, minorities, trans kids and otherwise flogging his mouse, he has been funneling their retirement stash into investments firms that have provided less than stellar returns:
“
A Lever review found that had the state pension fund instead been invested in a simple, low-cost index fund, compared to its present mix of holdings, teachers, police officers, and other state employees would have about $10 billion more in their retirement funds.“
Congratulations, denizens of The Villages, while DeSantis has been distracting you with the cultural crusades which are now having devastating effects on your State’s economy, and upon which you rely to have a good performance to bolster and strengthen your retirement accounts, he has also been picking your pockets to fund his own political ambitions:
“The low-return, high-fee investment strategy under DeSantis — who serves with two other Republicans on the state pension board — has been harmful for the state’s retirees, who had already been struggling with sub-par retirement payouts.
But under DeSantis’ leadership, the state pension fund’s investments have been a boon for financial firms whose executives have delivered huge donations to the Republican Governors Association (RGA), which has pumped $22 million into the Friends of Ron DeSantis, a political committee that supported DeSantis’ gubernatorial campaigns and is expected to finance a super PAC supporting his 2024 presidential bid. Friends of Ron DeSantis was the largest recipient of RGA cash last cycle.“
But as long as he attacks those who are not like you, you will keep voting for him, am I right.
Remember this when you are taking your “9-Lives” casserole from the oven…
Is it possible that the two GOP front runners for El Presidente 2024, will both be, or about to be, convicted felons, and may have to govern from a prison cell?
One can hope.
Wait! You are actually trying to tell me that a Republican State Governor is stealing funds from his State’s own service employees’ pension funds? Nah…I just can’t believe that. I’ll have to call my cousin in Orlando and ask if there’s any truth to this unfounded rumor.
Having been married to a lady that helped start a black owned private equity firm, I have hung around folks who gave up half million a year jobs to make even more money doing exactly what you discussed. These are the richest of the rich, unless you were the heir of an emerald mine like muskrat. Whether they make or lose money on the venture capital for the retirement funds, they still get paid. I caught sh*t from her because I talked bad about Bush’s lies & illegal war at dinner parties. I liked her friend from Carolina, but most of the people I met were greedy, shallow assholes who didn’t care about the downstream as long as they got their money. I remember one guy b*tching about his bonus that was less than the five million he expected. That’s how out of touch these folks are. Now you know who picks the lawmakers! Congrats to the huddled masses who allow it.
As if ANYONE is surprised? The GOP mantra…”I got MINE, screw YOU”.
Looks like illegal campaign contributions laundered through the Republican Governor’s pact. Put them all in jail. I don’t see how Citizens United can save them. The PACT wasn’t using the money to run ads ( free speech) they were giving it straight to a campaign.
I share many articles on PolitZoom with Twitter and have now been informed that my Twitter account has been suspended. This is the very last article I shared yesterday. I wonder if this could be the reason.
Say what? You mean Mr. self-anointed CHAMPION of free speech (unless of course it’s criticism of him, his fascists leaders and advocates he likes, or correcting blatant lies) Elon Musk doesn’t believe in being free enough with his own speech to tell you just what it was that caused your twitter acount to be suspended. “Im shocked, SHOCKED I say!”
Remember this little trust fund nazi is from a country that locked up Nelson Mandela for 27 years for insisting he was as much a human being as they are. Turns out he was the real deal and they are soulless murdering nazis. You got banned for bringing truths to his media masterbation site. Right muskrat?