Watchdogs Our Ass
- A real estate venture created by President Barack Obama’s onetime boss and a nephew of former Mayor Richard M. Daley squandered $68 million it was given to invest on behalf of pension plans for Chicago teachers, cops, city employees and transit workers, a Chicago Sun-Times investigation has found.
The five public pension funds haven’t made a dime on the investments they made nearly a decade ago with DV Urban Realty Partners, a company created by Obama’s ex-boss Allison S. Davis and Daley nephew Robert G. Vanecko, records show.
In fact, the financially troubled pension plans have lost most of the money they gave DV Urban, which used the money to invest in risky real estate deals, primarily in neglected neighborhoods.
This is news now? Seriously? A decade later? Are you fucking kidding us?
- It invested in eight real estate deals that, for the most part, had gone belly up by Dec. 31, 2015, when the investment deals with the Chicago pension plans expired.
Though the pension funds lost out, DV Urban and its affiliated companies got about $9 million of the pension money for management fees. And they were in line for more until pension officials, facing losses, got a court order in 2012 to remove Davis and Vanecko from managing the retirement investments.
And this is news that these bitches got paid anyway? Paid up front for squandering $68 million of our pension dollars? Did the media just get clearance to print this tripe or what?
Labels: pension
posted by SCC at 12:35 AM
157 Comments:
Just got my water bill. 5% increase every year locked in and 18% if you late. Can't get out soon enough.
Wasn't this the same crew the pissed money away out of College Illinois funds ? I seem to recall people who put their hard earned money into College Illnois were nearly screwed out of their kids college funds because of the same type of scam.
Why isn't Daley's nephew Vanecko and Davis indicted and in jail....10 years ago, when this story originally hit the Sun-Times newspaper one morning as the paper was being read on the train by lots of city workers who were going into downtown for work....when they got there, they phoned their respect city pension plans and hooted and yelled for the administrators to not give that money up to cronies and a relative of the of the Mayor...that it was an Inside Deal, that they were stealing our pension money...the pension administrators were furious and admonished the city workers telling them how wrong they were and to give Vanecko and Davis a chance....Pity the Fools...we are them...Fools. Where is the Justice, where is the decency, where are the goons and why are they not incarcerated and why did they earn 9 million dollars when they lost most of the 68 million? When are we decent citizens going to revolt and cash out these rotten politicians who are in for no good?
Hey Zach, are you paying attention??
I wondering if there any Harvard Business School grads in that government dole firm... if no money money has been made, there then is a loss of atleast the amount/percent it would gained if it was in a regular bank account + inflation---
X{1% +(-.03))
End Balance $68,000,000.00
After Inflation Adjustment $50,598,386.21
-----------------------------------------------
nice way to lose $17.4 million on the principal balance, and the crazy thing is... this is aint criminal. TAC guys, good luck with your nickel and dime pinches. $17.4 million vanished right here. call felony review, but I doubt they could make a case out of this too. asshole ASAs cant even afford a decent suit and tie.
Nothing like being current there, Sun-Times....in other news, the Colts beat the Bears in Super Bowl XLI, a bridge collapsed in Minnesota, and Merv Griffin died.
"Though the pension funds lost out, DV Urban and its affiliated companies got about $9 million of the pension money for management fees."
Unfortunately this is the same problem with most investments, including deferred comp or a 401k; you take all the risk, they get the fees regardless of whether you make money or not.
Doesn't make them any less crooks, however.
they Davis and Daley's daughter and other nieces went to St. Ignatius HS. William Daley Thompson made a reported 30 million transfer fee for investing state pension funds Im sure Rauner's in there somewhere. You know besides most likely being the real killer of Koschman Patrick Daley had to hide in the Army and Russia for this among other scandals. remember Richie didnt know his son, nephew and Duff(outfit) received a multi million dollar from the city.
So they were paid 9 million to lose 59 million? Only in Chicago. People should be imprisoned already. We all knew about this but seriously, when will it stop? It's sad that people only care about police shootings when all of this malfeasance occurs. Prison would be too good for some of these derelicts. Once again, wake up feds and media. You want to investigate the police department when this shit is constantly occurring? Sad, pathetic and fucking unconscionable.
Do not vote for any of the political scum bag your stupid FOP Union is backing, they all voted against your pensions!
Rahm Emanuel is here as "the cleaner"
to make sure any evidence of financial crimes regarding
our pension is quashed and never sees the light of day.
Protecting Daley to protect the NorthShore cocktail party
set involved in the theft.
The entirety of Illinois north of I-70 would be turned into
desert for all the timber needed to build a scaffold big
enough to accommodate the snatching of kinks in
some well deserving dirty necks for this crime.
More shit-talk about cush pensions and sweet, early retirements
coming soon.
"Fuck you guys.
You're getting what we aren't."
Right?
"Make the cops work until they're 67/70/75..."
Crazy talk.
You should have invested it with the mafia. They are more honest.
Sad what passes for journalism in this banana republic socialist town.
What a sick sick fucking joke! How the fuck were they allowed to take that money? Daley? The Feds should be all over it. How can this even be legal? No one should be able to touch that money! What a conflict of interest. And we're the ones that have to take the ethics test? What joke Chicago is! Daley did so much evil to Chicago. And now they build parks in his family name as though he was so great. Rot in hell!!!
How many Millionaires did Daley make,Bridgeport to the Gold Coast,Hired truck Scam...Etc Etc...
No one will go to jail or get charged. But women who get 200 a month for feeding their kids are considered a drain on society the cause of problems. 9 million is far more than 200 a month. I can do that math easily. Good luck blaming the beasts and savages on this one. Stick up without a gun they just used a old leather briefcase.
In the old days, there was a sense of honor. The mob wouldn't steal from widows and orphans.
Fuck DALEY, Fuck OBAMA and Fuck the Pension Board!
How about that?
Some guy named Daley gets rich, and the people of Chicago got screwed?
Like that never happens!
And FLOP, with punkass Marky Mark at the helm, forgave that $68 million in exchange for eliminating the 30 year mark as highest step raise. Some might find it interesting that current bought and paid for FLOP Prez Disability Deano was part of selling us out back then. So it indeed seems true that a leopard can't change its spots.
Don't worry, these same stalwart purveyors of truth are the same people that are trying to pick our Presidential candidates.
Notice how they gave so much coverage to Trump and now Rubio? What happened to Cruz?
They covered Trump and Sanders a lot, and some of the other candidates sort of withered away.
Remember O'Malley and Webb?
Or Jindal, Walker, and Perry?
No coverage, no candidacy.
No, it's not a new story. They've reported on it before. Now new details have come out.
So what else is new?
Business as usual.
Too bad Trump isn't running for Mayor in Chicago.
If this isn't fraud, then nothing is.
The State's Attorney needs to get on this immediately, if they want to restore any sort of trust and faith in the system.
Why should anyone stick their necks on the line every day for a broken and corrupt system?
Please. Take some steps to begin restoring public faith in our system of laws and governance, that we may all move forward with the same faith and integrity.
damn, how much was those property worth... I bet they were some south side shithole deal, just to tag on management fees owed. I own 2 properties... I spend about $200 a month on up keep-- and my property is all good
Question Does anyone know if Rahm has made the pension contribution required by law? If not what are our pension reps doing about it?
I'm sure this was just the tip of the iceberg and there is plenty of criminality involved. But, sorry, the justice dept. is too busy investigating blue shirt coppers. A special place in hell, indeed.
Now, just NOW, they're coming out with this? WTF?
Better late than never.
Lmao Daley is living the high life lol . Rahm is popping the bottle and celebrating the all the shooting in the city !!!!.
Mariam Santos got screwed for trying to keep this from happening. Thank you mayor f**king Daley.
Normally, when someone makes an investment and they lose all or most of their investment, they do not make any money. But, in this topsy turvey bizarre world of democratic politics, it works just the reverse. Just look at Madigan. He runs the state into near bankruptcy but he makes millions from representing people who have to do business with government agencies. And, he is not alone out there. The suckers are the tax payers in this state. The public sector unions run to Springfield with suitcases full of cash to hand out to the legislators and they pretty much get what they want. Studies show that public sector union workers are paid 30% more then their private sector counterpart ; and I don't mean cops, but tradesman, drivers, secretaries etc. Not to mention the teachers. Chicago seems to be only a few years away from bankruptcy and everything will be up for grabs, pensions, contracts, wages. The bond sellers say there is no stopping it.
Yes sir....yes sir....no sir.....
I'd only we had a union......
Nice Sun Times but they missed the big picture like why Daley forced his family into the pension fund money. It was the Olympics. Daley told all his friends to buy up properties all over the south and west sides convinced that we were getting the Olympics. The problem was the Olympic bid was a farce and the IOC saw that. Temporary stadiums and temporary seating at all venues, it was a joke. His one buddy even killed himself when his and everyone else' investment went belly up.
Lisa Madigan ???
DOJ ???
Feds ???
FOP ???
Why even tell us after the Statutes of Limitations has passed? Or is this to justify why the Funds are insolvent and we will have to take a reduction? My favorite part of the article was how a couple of bright young lawyers just go up to the pension funds and are loaned tens of millions of dollars, with apparently few questions asked. Then the best part is that even if the plan fails, the bright young lawyers PROFIT FROM MANAGING THE LOSS THEY CREATED!!! Nobody other than someone wired to the Machine could pull this off. So where were the 'Watchdogs" when this rip-off went down? One of the reasons for the death of the print Media is the fact that printed news is no longer news by the time it is printed. But this story is History, and the Trib continues to Endorse Democrat Machine Candidates! Where were the Feds when this went down? One more kid, when she finishes law school; Chicago will be a bad memory, and of course a probably taxed and reduced pension check. Baby"G"
This was know for years. Why would anyone have said anything. Move on nothing to see here.
Isn't it funny how the F.O.P. turned its back on the only Alderman that stuck up for Police Officers. Remember that Alderman from the 41st Ward? He is backing a candidate that has supported union workers for years.
I don't understand why these mofos aren't in prison for stealing our money. What are the names of the people who were on the pension board at this time, and are they still there?? If so we need to get rid of the NOW
Where's the federal investigation?? I call for a "Special Prosecutor" to look into this. "Special" in that the prosecutor will not be beholden to the current president or the demoratic machine.
I swear this City lovvvves irrelevance, and anything but the Elephant that is always sitting in the room with us. Ten years to uncover this?! Really.... where in the fuck did all of you reporters out there get your degree ...kurdistan!
All political and to who's advantage?
It is just the way the world of democrat politics and investment works in Chicago/Cook Co.
The pension board trustees all need to be held accountable.
1. Trump will win.
2. People will be convicted after all the facts are shown.
3. Punishment will be awarded.
4. Traitors will be executed.
5. Honor will be restored.
Oh BTW, FU clouted Democratic/Socialist scum.
And Ritchie Daley continues to rake in $500 a day, 7 days a week, 365 days a year in pension payouts from money form 3 levels of government.
Yet, we are the problem according to everyone
It's not just that they got paid..............but who else did too?
God-Father Richie Daley....He stole from citizens, taxpayers and pension holders to give away their hard earned money to his nephew, son, his best friends and his nephew's best friends. The Nasty Beast Press in Chicago never challenged the Criminal Daley. The Press in this town Glorified Richie Daley for 20 years and continues to do so. And now, we have to swallow looking at a large, visual attraction named after his dead wife...what a Hoot....why wasn't that Park named after a Child who was in desperate need or who had cancer or another serious disability and who is a Survivor. Shame on this Damn City with its Cut-Throat Politicians and Go-A-Long, Get-A-Long Press. And Damn, Rahm is doing the same by building a NOT NEEDED and not wanted DePaul Stadium for a Private University against the wishes of the residents of this NOT SO FAIR city. And he's GIVING, GIVING a billionaire Lucas our Lakefront for $1.00....Lucas-Man, Vanity, thy name is George. Take a second best site here. And, to set the stage for the Obama Library, this town will need to spend a Fortune in infrastructure....where the hell will Rahm get the money to do that....the Pension Monies are already spoken for!!!!
Naw they knew about it. They were just afraid they'd get sucker punched by that twat Vanecko if they printed it. Anybody going out of their way and breaking the rules to generate more of their comcrap stupidity to save this clout club is fucking nuts.
Decades of trying to do the right thing and dealing with this kinda shit time after time???? It just breaks my heart that friends died trying to protect this shit hole.
Not just the original 68 million, but all the interest it should have earned in all those years. Now when you retire, after all those years of service, you'll know why you're only going to get a small percentage, or an IOU, in retirement pay.
Any responsible company with any integrity at all would not let this happen contacting their client. Oh, maybe they did, but it was your retirement, not theirs. See how much they care about you?
J.J.
Investment managers and bankers get their end no matter what. Heads they win, tails we loose.
Good, Media! Sit boy, sit.
(OT) funny Clinton interview hillary let's pray pro-police Trump wins:
http://www.maniacworld.com/flv/Hillary-Clinton-Talks-About-Her-Concussion.mp
Scum!
was it legal??? how could such a BS thing even happen?
why aren't these jerks in prison??
Did our pension board agree to hand over the $ to Vanecko?
There's more buzz where that came from
When this first became public it was a complete outrage, as usual the media gave it drive by coverage.
The media didn't report this but for those who are not otherwise aware people who have their millions managed typically pay the following:
When its an investment bank, the bank takes 1% of the asset value, typically paid quarterly. Trading commissions on the buying and selling of stocks and bonds, etc. are paid by the investors account. Those fees are not paid by the investment bank. Bank's stock value a little down due to quarterly earnings? Buy and sell some stuff across a bunch of pension plans to goose earnings a little. Just another means for the bank to print money like Fractional Reserve Banking
When you're investing in a Hedge Fund, Fund management receives 2% of the asset value and 20% of any profits.
One way or another, if you're talking about investing $68 MILLION in what was essentially a start-up investment firm, the commission paid would be less then the baselines listed above.
Given the typical compensation, Davis & Vaneckos compensation was way beyond the norm, especially given there investment experience. I wonder what Davis & Vaneckos trading fees were??
It's criminal that Davis and Vanecko were paid millions up front. That is not normal.
It's obvious the whole scheme was designed to work -- unfailingly -- for Davis & Vanecko, devoid of any risk to their own wealth and not so much for the pensioners. Fucking outrageous!
If I was a cop, I'd make it my business to be right there whenever Davis or Vanecko so much as jaywalked.
The money they received really should be clawed back. They never should have been given pension money in the first place.
Another Daley rip-off.
-Citizen
It says they were given the money. By who? Daley? Did our pension board agree to this?
$68 million theft.
The politicians have been re-directing pension monies for years and they get away with it, it's happening in every local and state pension fund and no one calls it what it is. Granted the pension funds have been impacted by the great recession, but why are the powers to be allowed to get away with not fund the pensions. The real estate owners have to pay their taxes each and year with a line item on these bills for pensions plans. My real estate taxes are going up 59.9% June 1st why are politicians allowed to get away with criminal act such re-directing the pension funds what kind of crap is that. If we don't come up with a solution Illinois will die along with real estate values, tax base and jobs! The politician's that stole the pension funds they should be held personally accountable and not allowed to sweep in under the rug.
When does The Daley trial start?
That nobody at fed state or local level has gone after such obvious in your face fuckery means that this is a situation that goes well beyond and renders moot the social contract that keeps the average citizen obeying laws and respecting due process. Maybe someone nearing the tail end of a terminal illness ought to do a solid before passing.
Daleys close friends are now Gold Coast Rich with all you're stolen tax dollars.
Since they did not rake the money into a pile and burn it -- someone has it.
Another example why these shady newspaper companies are going out of business. The fact theyre reporting this now reflects the corruption of politics in Chicago.
Shades of Solyndra and other alternative energy investments the Obama administration "picked". What they have in common is that taxpayers got screwed royally, Obama's cronies got lots and lots of dollars, companies folded, and NOBODY has the balls to question the legality or ethics as these radicals go sailing along happily on our dime. I sure hope somewhere still on this Earth there will be an accounting for this rape.
Guess the retired and the soon to retire are going to have to go back to work.
Please tell me again why Shortshanks isn't in prison.
(OT) Look at this headline are you kidding police officers everywhere what an ignorant insult to the thin Blue line clinton is a national disgrace:
Clinton pays tribute to black victims – ignores officers killed in line of duty
http://www.foxnews.com/politics/2016/02/27/clinton-pays-tribute-to-black-victims-ignores-officers-killed-in-line-duty.html?intcmp=hpbt2
This is hard to stomach brothers and sisters in Blue! We are being shot/murdered by thugs and this pos thinks she is presidential material? Why is she not in jail? Crazy but the only presidential candidate that speaks out for us is Trump, and Trump has stated "General David Petraus was put in jail for doing so much less than hillary, she is running for her life she knows when Trump takes office he will send his DOJ to look into her felonious behaviors!"
How about talking about this poor officer in Virginia first day on job killed:
http://www.foxnews.com/us/2016/02/28/virginia-officer-killed-on-her-first-day-on-job-2-other-officers-injured-in-shooting.html
May she RIP, Law enforcement blog readers are the only people that keep you from total anarchy and mayhem! Support police! Support pro-police candidates only, encourage your families to do the same, this is the most important election in our history!
Can't blame the Republicans, there aren't any.
Why anyone in Chicago continues to support any Democratic candidate is beyond my comprehension.
What are you going to do, wait until your property taxes double before you finally wake the fuck up? (That just might happen this summer when the second installment of the real estate taxes comes out, BTW).
Call the next case. Not a cop.
OT
Thanks to everyone that came out to the Honor Flight Chicago charity hockey game between CPD and the FBI. CPD put on a whoopin', 8-1 to bring home the hardware.
Sorry for all the soon to be open investigations this may have caused.
Anonymous Anonymous said...
Lisa Madigan ???
DOJ ???
Feds ???
FOP ???
2/28/2016 08:11:00 AM
Seriously? You're looking for help from the same FOP that endorses 99% Democrats? Or Lisa Madigan, the daughter of the biggest crook in Illinois history? Bwahahahahhaha!!
Let us not forget that our union was for this plan. Especially I remember hearing form Mark Donahue in roll call how we need to invest in real estate to make more money.
In the past I've seen that Vanecko coaching kids up on the northwest side and I'll ask PO's who's kids are playing for him if that's the guy that stole our pension money. And the answer is usually "Yes but he's a nice guy". WTF
"Prior to Brennan Investment Group, Mr. Vanecko was a co-founder and co-general partner of DV Urban Realty Partners I L.P. (“DV”), a $71.5 million real estate private equity fund. DV invests in value-added urban real estate transactions, primarily in Chicago"
the assholes profile is a joke.
It's shit like this that takes a major toll on a police officer. Day after day stories of corruption by connected political scum. The police officer gets taken for a ride while the connected crooks get rich and nothing happens. Daley is a very rich man. SICK!!!!!
Anonymous Anonymous said...
So they were paid 9 million to lose 59 million? Only in Chicago. People should be imprisoned already. We all knew about this but seriously, when will it stop? It's sad that people only care about police shootings when all of this malfeasance occurs. Prison would be too good for some of these derelicts. Once again, wake up feds and media. You want to investigate the police department when this shit is constantly occurring? Sad, pathetic and fucking unconscionable
I can flat out guarantee I can lose $75 million of the alderman's pension funds so that should entitle me to about $10 Million in fees right?
After all what's good for the goose is good for the gander.
And FLOP, with punkass Marky Mark at the helm, forgave that $68 million in exchange for eliminating the 30 year mark as highest step raise. Some might find it interesting that current bought and paid for FLOP Prez Disability Deano was part of selling us out back then. So it indeed seems true that a leopard can't change its spots.
2/28/2016 03:08:00 AM
You've got your figures and facts wrong.
Donahue and the FOP did forgive $29 Million "borrowed" from our fund to drop maxing out from 32 and a day to 29 and a day.
They didn't forgive any part of this Vanecko et. all major fleecing.
The bigger question is who what fat heads in our pension fund allowed this crime to happen? were people given the Chicago way "manila envelope?" Hope this finally opens up a federal investigation into how our pension funds are being pillaged! Mike Lappe your our guy please comment on how this sleight of hand deal was done! Coppers working their entire lives to have this happen? Mike when will rahm put in that 500 Million owed? dean your so silent what kind of leader do you pretend to be? Hows the puppy dog collection online business doing sir?
The Board voted for it. Look at the Board at that time, just like the voting for the FOP president to be on the dole for the last 20 years.
Why the fuck do you think the fuckers changed the law and made it so we don't get social security. Daley didn't want to pay the Feds every month. Fuckers And the worthless FOP let them not pay into the pension fund. Fuck then and their ISRs.
If these fuckers stop paying out our pension there is a simple solution Stop working. 6000 arrests goes to 60. Its that simple.
Anonymous said...
It says they were given the money. By who? Daley? Did our pension board agree to this?
$68 million theft.
2/28/2016 10:57:00 AM
The appointed and elected pension board members of every fund might or might not have agreed to this. Most funds hire people to manage the funds and they make the investments. It is unclear at this point.
Anonymous Anonymous said...
Please tell me again why Shortshanks isn't in prison.
2/28/2016 12:11:00 PM
Because the prosecutors, judges and witnesses all owe him their jobs, wealth and standing in the community, that's why.
Both of these wanna be assholes need to be shot behind an ear.
If trump wins, there will be a civil war in this country.
1 – 69 of 69
Anonymous Anonymous said...
Just got my water bill. 5% increase every year locked in and 18% if you late. Can't get out soon enough.
2/28/2016 12:45:00 AM
Might want to check your water bill. Increase might be the $9.50 a month garbage collection fee they will include in the water bill starting in 2016
This is one of the biggest reasons we need Trump victory in Republican race and in the general election. I don't care if you like Trump or not we need him.
There is an email going around that explains it like this.
If you were away from your house for two weeks and returned to find it full from one end to the other with raccoons. Dirty, smelly, rabid, shitting everywhere tearing up everything raccoons.
You immediately want someone who can get rid of raccoons. You don't care if he is smelly, crude or cusses as long as he gets rid of the damn raccoons. Trump my be crude at times but our country really needs to get fixed.
Do you think any Democommunist will launch a federal probe into those pension fund abuses. Do you think they will continue to send representatives to thugs funerals and continue to ignore police KIAs.
Register everyone you can an VOTE! blm does, three or four time each at least.
Who owned these crap properties DV Urban? Who was overpaid? Why hasn't Attorney General LISA MADIGAN done anything? Forteen years as AG, no indictments? What has she done?
But:
"We need to take down that nasty, racist cop blog..."
"Those cops are nothing but a bunch of whiners..."
"...Sweet early retirement in their mid 50's with cush
$100K pensions paid for by the taxpayers while the
taxpayers are getting nothing..."
"Fire them all!
We can replace them and do their jobs better, for less
pay and none of their complaining."
"Make those rebellious cops get back to work.
They're public servants and need to be put in
their place."
"Get over yourselves! You guys swore an oath to
serve and protect US so stop being so selfish and
honor your oath! Nobody gives a shit about your
problems. If you don't like what you signed up for
then quit..."
"We don't need nobody comin' up in heah tellin'
US how to do..."
"Police code of silence..."
"Police are killin' all our black youths!"
Society cheering as The Police are kicked down
the social ladder to second class citizenship solely
because they wear a blue suit of clothes with a star-
shaped piece of copper and tin pinned to their shirt.
Society figures that it's far better to befriend what
Policemen have been fighting against...
We wonder, as we take inventory...
Two torn up knees, one surgically repaired.
One surgically repaired shoulder.
Multiple broken/dislocated fingers.
Ruptured lumbar disc. (Removed)
Many friends and acquaintances who
were sickened, crippled, killed on this job.
"You cops are the problem."
Damn...
Was ANY of it actually worth it?
Police like you have no friends.
Viva Hate.
Take joy in the fact that every living ass
is now equally in danger and that no one
is safe and there is nowhere for anyone
to hide.
This is what THEY want.
THEY are very unhappy
about getting it...
they Davis and Daley's daughter and other nieces went to St. Ignatius HS. William Daley Thompson made a reported 30 million transfer fee for investing state pension funds Im sure Rauner's in there somewhere. You know besides most likely being the real killer of Koschman Patrick Daley had to hide in the Army and Russia for this among other scandals. remember Richie didnt know his son, nephew and Duff(outfit) received a multi million dollar from the city.
--------
Go Ignatius! I'm worried what it will cost me to send my little guy there in 12 years? It'ss a great high school that can't be denied!
Did our pension board agree to this?
$68 million theft.
it doesn't matter. This is what we get for not sticking together.
Why does FOP lodge 7 advertise themselves as the largest police union when in fact they are not a union at all??
(OT) just watched the Trump rally in Alabama Senator Jeff Sessions endorsed him, then the black lies matter thugs started their nonsense they were thrown out as these scumbag liars should be Trump said loudly 3 times "all lives matter" at least he has the guts to tell these mayhem induced punks the truth!
Hey folks stop asking about Daley involving this.
statue of limitations are all done. Even as elected official.
Someone previous poster asked if Zach Fardon was paying attention. LOL!!! He's here to make sure cops don't shoot criminals. He's a Democrat. He ain't investigating shit on the machine.
Police pension would have a surplus if city had put it's share in from first day of employment since the 1950's , where did all the money go that should have been deposited in pension fund . Years ago Police Officers lived an average of 2 years after retirement .
Why no department of Justice audit of city funds , expense accounts etc .
All of the assholes involved including those on the pension board should be in the Federal Pen for approving the loan!
Hey, a good (for nothing) politician always makes money for his friends
Referendum on the next election ballot. Take Daley's name off everything (park included) except the port a shitters for the homeless.
Anonymous Anonymous said...
Please tell me again why Shortshanks isn't in prison.
2/28/2016 12:11:00 PM
Because no one was willing and still isn't willing to Saddle Up, Grow a Pair and give him up!
Are you new here?
Where was the US Attorney, supposedly a great crime fighter. That louse apparently is the only man in Illinois who didn't know that Daley was a thieving crook, along with his entire stinking family
That money was blown on real estate deals gone south after the 2008 crash.
Anonymous said...
Please tell me again why Shortshanks isn't in prison.
2/28/2016 12:11:00 PM
What agency is going to investigate and prosecute him in Chicago????
Anonymous Anonymous said...
"Though the pension funds lost out, DV Urban and its affiliated companies got about $9 million of the pension money for management fees."
Unfortunately this is the same problem with most investments, including deferred comp or a 401k; you take all the risk, they get the fees regardless of whether you make money or not.
Doesn't make them any less crooks, however.
2/28/2016 01:25:00 AM
One very big difference between our pension and private sector 401k's/investments....Mayor Daley who pays into our police pension plan (whenever he feels like it, and not at the mandated amount) has a family member on our police pension board. That is absolutely ludicrous, and a huge conflict of interest. Then his family member makes extremely risky real estate deals with help from other "Machine-Connected" miscreants that lose 70 million. They should all be in jail with Vanecko's idiot 'roid-rage son. This kind of bullshit is not allowed to happen at Fidelity or Vanguard investments. It is the norm however at Shortshanks LLC.
One that maybe overlooked is Ariel Investments. They have a ton of the pension fund money and are really connected. What is their percentage over the years? If you remember Judge John Rogers in Juvie Court- his son John Jr. runs Ariel investments- tight with BHO and the machine. His wife , Desiree Rogers, was at the White House for a while. Is this investment firm performing as expected>? Only the Board knows.
The money was given to Vaneko with the blessing of the pension board?
Now you know why they want to take our guns
Let me ask a stupid question. Why isn't anybody following the fucking money? What the hell is wrong with the Suntimes..? Guess you cops will have to do a little gumshoe work if you want to find out who was really pulling the strings. Daley, Vanecko and Davis are only half the story. Who sold the pension board these shitty, worthless properties? They got your fucking 50 million in pension money!
Time to demonstrate the fraud by looking up the old tax bills to see the assessed value prior to the sale. You will be able to see how much the pension funds overpaid to buy the properties. It would also be a good idea to find out what shitbird appraiser valued the properties for the pension funds. The appraisals should be in the file with sales agreement for each property in the pension fund office. A copy of the appraisal report is only a FOIA request away. Look what happened finally with the Koschman case based on asking the right questions and filing the properly worded FOIA request.
The conspiracy between DV Urban, Daley, the appraiser, and the sellers of the property is where the conspiracy and fraud likely took place.
Somebody needs to look at the deeds for the prior ten years, and see who got the money when the properties were sold. That is the big money.
Then you will know the rest of the fuckery.
When this war is over, there will be a reckoning. (Cold Mountain)
Chicago is the most politically corrupt in the most corrupt state. They raided the cookie jar and said fuck the pension funds. They lose all the money we invested and no one has the balls to investigate them. Wonder if we can get some of the Justice Department overseeing CPD to investigate them. We pay our fair share, many cops who had over 40 years on the job before they retire. The politicians make the police and other city workers the bad guys. We don't need to be collecting between 125,000-150,000 dollars a year in pension(lmfao). If I don't get a pension, I'm going to hog tie the mayor and every alderman, then force then to clean out their bank accounts so I can have a pension.
Every CPD rank LT and below should come in with zero numbers every day. Not a mover, a parker or even a bus check. No arrests, unless signed complaints forced by victim. The get petitions signed that states no work until the city pays what is owned to our pension fund.
CPD's numbers are way down, now just need to come together and do zeros across the board. Let those homicides keep growing to go for a all time high. If we all do this the Tiny Dancer and the aldercreatures, might just understand they are screwed and find that magical money. The same money found for Depaul, Maggie Daley Park, bicycle lanes, etc.
Anonymous Anonymous said...
Please tell me again why Shortshanks isn't in prison.
2/28/2016 12:11:00 PM
Shortshanks in prison means other elected officials,
members of the muni gov-corporate cabal and members
of local media will stand a pretty fair chance of justifiably
being dropped through a gallows trap door with a noose
around their necks and knotted behind their left ears...
You'll see every headline except:
"Well... Maybe the racist, brutal, rebellious, complaining
cops on that nasty blog were right afterall. So what?"
No justice.
Perhaps vengeance when they
feel bold enough to make their
big move toward the pension
snatch they desperately want to
see happen.
This is not news. It was reported previously. Yes, the pension board approved it.
And yet the same people get elected to the boards.
Some people have to much faith in that garbage of union
Anonymous Anonymous said...
If trump wins, there will be a civil war in this country.
2/28/2016 03:44:00 PM
Toddle off somewhere with your
sippy-cup of warm STFU...
A civil war may be needed to properly sort
and re-align some waaayyyy out-of-kilter
shit in this country.
The prog-tards are all agape, gastiflabbered
and alarmed at how "angry" working middle class
Americans are...
Laying on a thick guilt-trip...
Why are you "conservatives" so pissed, combative and
unwilling to cooperate.
"Your anger is racist, scary and wrong-headed..."
"You non-believers in hope & change are gonna be
on the wrong side of history when we dictate what it is."
Seems like this is news to a lot of people. That in itself is sad
Not all that money was lost, someone or many got rich and lined their pockets, they should be in jail. No politician should have touched pension money, there are laws supposedly safe guarding this. And now in 2016 these politicians are coming to us and saying sorry we have to work together. Fuck you. The lawmakers allowed the money to be squandered away, didn't pay the money into the funds, reduced the colas by 1.5% . No more , it's time we demand this problem be fixed now! I'm tired of the rhetoric from politicians and the media about the financial burden. The politicians created this not us. To put it in perspective, the pension can be fixed with only 1% of the states economy, so fix it.
How is this different than Bernie Madoff? (Who's in jail)
Wasn't there a scandal breaking regarding a sewer co. or something and city contracts with Daleys son right before he joined the army?
Just google ...mayor daleys son gets city contracts.... And see all the stories that come up
And the award for the longest serving Pension Board member goes to Kenneth Hauser. Now President of the board and a member when the loan was approved. Hey Ken, please stay awake during the meetings. It is our money, you know. I hope you're ready to dump Disability Dean as the useless FOP President since you're also a FOP Board member. And how about re-evaluating his disability pension?
There's some "politicians that really need their knee-caps broken. It seems that it would be the way to punish these "rodents" who always seem to escape their due !!!
Might want to check your water bill. Increase might be the $9.50 a month garbage collection fee they will include in the water bill starting in 2016
2/28/2016 04:03:00 PM
So adding a new tax is better? That is actually way worse. Where is your outrage, sheep?
Look at the IMRF pension fund , it is funded at over 90% because cities, schools and parks must put in their share every paycheck . It is not the First Responders Fault that shortshanks and ballerina failed to make city share of pension fund every two weeks
Anonymous Anonymous said...
Who owned these crap properties DV Urban? Who was overpaid? Why hasn't Attorney General LISA MADIGAN done anything? Forteen years as AG, no indictments? What has she done?
2/28/2016 04:58:00 PM
What do you mean, "what has she done"?
She warned everyone about dozens of dangerous toys!
Seems that daddy won't let her do anything else...
No conflict of interests there? Her daddy is the actual governor, running everything in the state and she's his lawyer.
Anonymous Anonymous said...
1 – 69 of 69
Anonymous Anonymous said...
Just got my water bill. 5% increase every year locked in and 18% if you late. Can't get out soon enough.
2/28/2016 12:45:00 AM
Might want to check your water bill. Increase might be the $9.50 a month garbage collection fee they will include in the water bill starting in 2016
2/28/2016 04:03:00 PM
Saw a white streets and sans van going down our alley with the guy inside writing down the number of garbage carts behind our houses.
what is the legal amount of carts allowed before we are charged/fined for having more than allowed? How can you get the city to take the unused ones back? Have to google this bullshit!
Anonymous Anonymous said...
If trump wins, there will be a civil war in this country.
2/28/2016 03:44:00 PM
Think if Trump loses when the democratic machine steals the election thy will see the honest taxpayers rise up!
Anonymous said...
1. Trump will win.
2. People will be convicted after all the facts are shown.
3. Punishment will be awarded.
4. Traitors will be executed.
5. Honor will be restored.
Oh BTW, FU clouted Democratic/Socialist scum.
Easy there Stalin. Are you going to send people to reeducation camps too? Talk about clouted, Trump was born on third base then brags to everyone that he scored a run. Trump's clout also kept him out of Vietnam.
And if anyone wanted to follow the money, the Daley's (Richie, Patrick, Nora, Lally; their cousins, the Thompson's, the Vanecko's, Green's, Briatta's, Aukstik's, Butler's Corbett's etc etc etc)
Years ago a newsman did an article on the family tree and followed the jobs of those members. At the time there were 68 family members working for the city, county, or state. I'm sure that the numbers have grown but the difference now is that they work for banks and financial companies rather than government. I know that when Boeing moved to Chicago, one of the Thompson girls was immediately hired by Boeing as a $300k a year event planner. Heck just follow Nora, Patrick and Lally and their spouses. That alone will reveal a lot.
I think the "old cop" posted above has it about right. The problem is not does the City take in enough money, it is all about how it is spent. In this corrupt city, county and state it is laundered into rigged expenditures with money going to the political class and their cronies. They do not consider their obligations to you cops and other city employees. The mere fact they do not properly fund your pension promise proves this point.
There is no way that an investment company normally gets over 13% of the initial investment unconditionally. That's approxitey $9 million of the original $68 million. Then looses the other $59 million. Whoever allowed that contract to be approved should be answering questions to the US Attorney's office. No way is that customary. And why wasn't there any oversight when they saw these real estate deals tanking. Lots of questions need to be answered. If nothing else these guys were incompetent and should be sued civilly and take any weath they accumulated from these deals.
Who were the Pension Board Trustees who approved this deal, if you have the names please post.
I wonder whose pocket all those millions went into.
"....when will Rahm put in that 500 Million owed?"
I think the answer is never. With the "pension holiday" and continuously kicking the can down the road....I don't think it was ever their intention to fund & pay pensions for the little guy. I'm pretty sure they viewed this as free money for the connected....probably never even purchased or invested in any property. Like another commentor said, unless the money was raked into a pile & burned, that money is somewhere. My guess it's in an off shore account.
sorry boys and girls..shortshanks will NEVER have to stand trial ..remember he had a "stroke" a while back when the shit started hitting the fan..now..he REALLY can't remember anything....
Anonymous Anonymous said...
Anonymous said...
Please tell me again why Shortshanks isn't in prison.
2/28/2016 12:11:00 PM
What agency is going to investigate and prosecute him in Chicago????
2/28/2016 07:55:00 PM
Donald Trump will sick the US Attorney on him after he is elected. Trump hates the Daleys!
Don't forget to do your online "Ethics Exam" in a timely manner either.....
Media whores
That a hole Daley got elected 5 times , cop should have run against him.
Well, Davis is black, so you can suck it. That's the legal standard set here.
Seriously? You're looking for help from the same FOP that endorses 99% Democrats? Or Lisa Madigan, the daughter of the biggest crook in Illinois history? Bwahahahahhaha!!
2/28/2016 01:17:00 PM
****
Hard to endorse republicans when they don't even field candidates in most cook county races.
On our current Board is a Gold Coast Millionaire named Simpson,Keep a big Eye on him hes in bed with Rham and all the other Gold Coast Scam Artists.
Anonymous said...
It says they were given the money. By who? Daley? Did our pension board agree to this?
$68 million theft.
2/28/2016 10:57:00 AM
The appointed and elected pension board members of every fund might or might not have agreed to this. Most funds hire people to manage the funds and they make the investments. It is unclear at this point.
2/28/2016 03:04:00 PM
It is NOT unclear. Our pension board agreed to it.
When the writing was on the wall, they sued successfully to get Vanecko removed, but much of the money was already blown by then.
""Anonymous Anonymous said...
Please tell me again why Shortshanks isn't in prison.""
Because He's a King and were serfs. For thew million'th time.
How many voted to give away our money! pension board could you post the names of who approved of this felony theft? Hope the feds get in gear and "git er done" Do a forensic audit of the pension board,along with the cities finances that would be "change we could believe in!"
People that want 2 b overceer's have other thing's in mind other then the people
they serve. Over the last 30years or so, the union and the pension board had
inside people who slept with the enemy.
Allison Davis? O'Bummer's first boss when he was a "community organizer" and business partner of Antoin "Tony" Rezko?
To 10:22 a.m.: FYI, Allison Davis is a white guy. He merely exploits the black community through his political connections.
I could have doubled the money every year with real estate and still made myself rich.
Hmmm.... Obama crony, public money that "disappears" into thin air after being "invested" in shaky projects.... shades of EnerDel and the "green energy" companies that Obama bilked taxpayers for millions of slush fund dollars out of shortly after his election. I can just imagine what an audit of the books would reveal after Obama leaves office. But don't count on the NYT or Sun-Times to report any of the findings, at least until the statutes of limitation are past.
So...
Why are the financial gypsy travelers
allied with Rahm, counting on Policemen
to actually be good sports about having
their pensions stolen in order to "save them,"
or whatever other finely minced word salad
they're using as a substitute for "STEAL?"
As one poster aptly said on another thread:
"You will not like how we're going to react."
Stealing from Policemen is a preferable alternative
to stripping away goodies from the perpetual entitlement class.
Tact, gang teams, burglary guys ? All those "real cops" in the units!! After reading this post....there should be only one thing in mind. The first, the sixteenth, the pension. You couldn't seriously pay me enough at this day and age to be coming in with the "quota" of what your white shirts wants. I see you guys daily, I pity you guys. I am glad I'm so done with that crap.
Donald Trump will sick the US Attorney on him after he is elected. Trump hates the Daleys!
2/29/2016 09:10:00 AM
You are delusional. Won't happen.
Anonymous Anonymous said...
Police pension would have a surplus if city had put it's share in from first day of employment since the 1950's , where did all the money go that should have been deposited in pension fund . Years ago Police Officers lived an average of 2 years after retirement .
Why no department of Justice audit of city funds , expense accounts etc .
2/28/2016 06:21:00 PM
************************************************************************************
You should really get your facts straight before you post nonsense. The city as never missed a payment, other than the 29 mil or so excused by the FOP. If you know how to read you can look it up on the Pension Board site. A reasonable question is, "how did the FOP get standing to excuse anything?"
The City is due to pay big money into the Police Pension Fund today, watch the news and see what happens, they have tried to kick the can down the road, but have been unsuccessful so far. I hope the Pension Board goes to court if the city does not pay up.
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