Murphy Reprises Corzine’s Asset Monetization Plans, MMM Reprises ‘King of the Road’

Asbury Park Press graphic. Permission to use granted 11 years ago

Politico is reporting that Governor Phil Murphy is reaching back to the previous Goldman Sachs Administration in New Jersey by “launching an effort to identify state assets that could be leveraged to reduce New Jersey’s unfunded pension liability.”

Former Governor Corzine couldn’t sell his idea of selling New Jersey’s toll roads to investors (China) for a $30+ billion cash infusion to plug our chronic budget wholes. Will Murphy, who according to Politico is looking to sell more assets than toll roads,“numerous state assets, including property, buildings, roads, transit facilities, easements, air rights, naming rights and infrastructure, such as airports, bridges, water facilities, ports, parks and recreational facilities,” succeed where Corzine failed?

Politico says that Senate President Steve Sweeney supports the concept.

On January 21, 2008, MMM responded to Corzine’s scheme with a song parody crafted by Lori Gallagher, aka Mrs. Musings:

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Sneaky Murphy trying to change the deal

The Democrats leading the legislature in Trenton are learning first hand how devious bankers are and that a “done deal” really isn’t until the paperwork is signed.

In his deal made with Senate President Steve Sweeney and Assembly Speaker Craig Coughlin yesterday evening,  Governor Murphy agreed to raise the threshold for the so called millionaire tax to $5 million from the $1 million he originally proposed.  That was to have meant that fortunate taxpayers would pay 10.75% of their income over $5 million to the Soprano State of New Jersey.

According to a sleep deprived source in Trenton, the fine print Murphy presented the legislature today set the millionaires tax to be triggered at $5 million, but for the 10.75% to be applied on the taxable income over $1 million.  Sweeney and Coughlin made a deal that would require a wealthy taxpayer with $6 million in taxable income to pay New Jersey $107,500 in tax on the million earned above the threshold.  The legislation Murphy presented would require that taxpayer to pay $537,500. Read the rest of this entry »

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While we’re taking down statues, let’s take Murphy off the ballot and give his house to Black Lives Matter

Photo credit, U.S. Embassy Berlin

Former Goldman Sachs Banker Phil Murphy took his campaign for governor into the gutter yesterday when he accused this Republican opponent, Kim Guadagno, of condoning racism and antisemitism.

“We are now seeing a disturbing trend emerge with Kim Guadagno and her campaign,” Murphy said in a statement, according to Politico. “Yesterday, she refused to criticize a sitting Assemblyman for posing with the Confederate flag, a symbol of bigotry and divisiveness. Today, we’ve learned that her choice for Lieutenant Governor, Woodcliff Lake Mayor Carlos Rendo, has been accused of systematic harassment and discrimination by the Chabad community in Woodcliff Lake. Yet, both times Lieutenant Governor Guadagno refused to criticize racist and anti-semitic speech despite the clear evidence.”

If Murphy believes that accusations in a lawsuit are “clear evidence” and that country singer Hank Williams Jr. and Assemblyman Parker Space are racists, maybe he is dumb enough to not have known that he was in charge of a $55 million investment in a Chinese shoe manufacturer that used slave labor while he was president of Goldman Sachs Asia. Read the rest of this entry »

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Phil Murphy’s rival accused him of profiting from slave labor at Goldman Sachs

TRENTON — For more than a year, Phil Murphy has campaigned to become New Jersey’s next governor, spending more than $16 million of a vast personal fortune made from over 21 years at Wall Street juggernaut Goldman Sachs. Along the way, he carefully has maneuvered around two potential Goldman thorns: Comparisons to former Gov. Jon Corzine,… Read the rest of this entry »

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Goldman Sachs to pay $5 billion for its role in housing bubble

Goldman Sachs has agreed to pay more than $5 billion to settle charges it sold mortgages it knew were likely to fail during the housing bubble heydays of 2005-2007, the U.S. Justice Department announced today. Of that settlement, $1.8 billion has been set aside to help consumers harmed by the practice – with most of it… Read the rest of this entry »

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