The guy to fix NY----And it isn't Denapoli

Time to cut spending.

http://berkshires.ynn.com/content/politics/519559/comptroller-candidates-dinapoli--wilson-debate/

It's time to cut off your right hand so that your left hand won't be scared......

why don't we mean test ss? You know if you got a bubbulicious COOP in manhattan.. you get zirp.

love this saying... asset rich cash poor.... Riversider fitting no?

English please so aboutready understands.

Harry Wilson, the baby-faced, 38-year-old Republican running for state comptroller, caps 20-hour days on the campaign trail by falling asleep at his desk at 3 a.m.

His work ethic has served him well. In six months last year as a senior member of President Barack Obama's Auto Task Force, Mr. Wilson headed the team that cleaved off General Motors' underperforming assets. He helped persuade the United Auto Workers to reduce the company's crippling obligations to union retirees and pressured the board to dump its chief executive. Mr. Wilson is credited with the idea of the government's buying GM stock rather than simply giving it cash. General Motors became Government Motors, a politically toxic idea but one that gave the automaker a shot at survival.

http://www.crainsnewyork.com/article/20101010/SUB/310109967

“The country was in crisis, and the president was looking for talent,” says Mr. Wilson, who had voted for Sen. John McCain. “My country was more important to me than anything else. I think we're in the same spot now. Our state is in crisis.”

Mr. Wilson wants to restructure New York the way he did GM. He plans to turn the comptroller's office from an oversight agency into a management shop, and to use data-driven analysis to push for improvements in the quality and efficiency of state services. His professed apolitical approach and his personal trajectory have much in common with Mayor Michael Bloomberg.
Up by the bootstraps

Saving an American industry is the capstone on a gilded résumé. The son of working-class Greek immigrants, Mr. Wilson grew up in Johnstown, N.Y. The first in his family to go to college, he attended Harvard on scholarships and part-time jobs and returned to earn an M.B.A. A stint at Goldman Sachs led to private equity jobs and to a partnership at hedge fund Silver Point Capital, where he specialized in distressed companies. He retired at age 36. Mr. Wilson's Democratic opponent derisively calls him “Hedge Fund Harry.”

If comptroller were a job one applied for, it's easy to see why Mr. Wilson would be qualified. That is, in fact, Mr. Wilson's argument to voters: The sole manager of the state's $125 billion pension fund and the office that audits state agencies' use of taxpayer money “should be run by a professional, not a politician,” he says.
An uphill climb

But it's an elected position, and Mr. Wilson's ascent is by no means assured. Standing in his way is incumbent Thomas DiNapoli, 56. A Nassau County assemblyman for 20 years, Mr. DiNapoli was appointed comptroller in 2007 after the resignation of Alan Hevesi (who last week pleaded guilty for defrauding taxpayers). Mr. DiNapoli, who has a master's degree in human resources administration, says he has restored the integrity of the office and that his audits have identified $3 billion in wasteful government spending.

Last month, Mr. DiNapoli lowered the state pension fund's expected rate of return to 7.5% from 8%, tacitly acknowledging a point Mr. Wilson has been arguing for months: that overly optimistic investment return projections have artificially inflated the fund's future value. The change left the fund, on paper, with a long-term liability that Mr. Wilson still contends is vastly understated.

Mr. Wilson, who speaks so rapidly about discount rates and dividend yields that he garbles his words, argues that if the state used corporate—not government—accounting principles, the fund's 30-year projected deficit would be $43 billion to $93 billion. He says he will offer ways for the Legislature to reduce pension benefits that are equitable for workers yet also good for the state.

Though Mr. Wilson is interested in rooting out fraud, his particular concern is what he calls “outright fiscal mismanagement,” especially of the state's largest expenditures: Medicaid and education. He would recruit a financial “SWAT team” of several dozen experts to oversee a staff of 2,600, supplemented by a consultant corps of private-sector volunteers.

“That's what I've done at companies,” Mr. Wilson says. “Find people who are motivated to do the right thing.”
Race tough to call

Mr. Wilson is tapping his personal fortune to outspend his opponent, whom he calls a “political hack.” Mr. DiNapoli paints Mr. Wilson as a creature of Wall Street's risky self-interest and will count on labor support to get out the Democratic vote. Polls, which have been unreliable because of the difficulty of identifying likely voters in this tumultuous year, show both candidates with low name recognition but Mr. DiNapoli leading. Gerald Benjamin, a professor of political science at SUNY New Paltz, says that the attorney general's dropping of an investigation into Mr. DiNapoli's dealings will take some of the sting out of Mr. Wilson's charges that the office is enveloped in scandal.

But Mr. Wilson's credentials and voters' willingness to balance the likelihood of a Democratic governor with the election of a Republican comptroller make the outcome entirely uncertain.

Mr. Wilson thinks the comptroller should have the power to stop irresponsible budget practices. Mr. DiNapoli disagrees, saying that such an arrangement would let legislators continue to avoid making tough decisions and would make the comptroller's office a scapegoat. But Mr. Wilson says he's willing to take the hit, even if it kills his nascent political career.

“It may be I have no interest in public life after this,” he says. “It may be I have no possibility for public life after this, after the decisions we have to make.”

Mr. Wilson also has been endorsed by New York City Mayor Mike Bloomberg; The New York Times, The New York Post, The New York Daily News; Crain’s New York Business; The Rochester City Newspaper, and others.
-------------------------------------------------------------------------------------------------

Buffalo, NY-Oct. 21…Former New York City Mayor Rudolph W. Giuliani has endorsed nationally-recognized restructuring expert Harry J. Wilson (R-C-I) for the office of New York State Comptroller, Mr. Wilson’s campaign today announced.

In endorsing Mr. Wilson for the post at Erie County Republican headquarters in Buffalo, Mayor Giuliani emphasized the daunting fiscal crisis in New York State – and the fact that Mr. Wilson’s skills as an investor and a restructuring expert make him ideally suited for the comptroller position.

“Harry Wilson is an extremely impressive individual with the ideal qualifications to serve as our next state comptroller, Mr. Giuliani said. “He understands how to make broken organizations work again, and there is no entity more broken right now than New York State government. I believe that the voters will recognize the enormous potential that Harry brings to the table, and they will elect him overwhelmingly in November. Harry Wilson has the skills to revolutionize the function of the New York State comptroller’s office to better serve the taxpayers.”

“Rudy Giuliani had a vision for New York City and, through sheer force of will and talent, he made it a reality, bettering the lives of millions in doing so,” Mr. Wilson said. “He revitalized New York City when most people thought the city’s best days were behind it. There are some now saying that New York State’s best days are behind it. With Mr. Giuliani’s example in mind, I refuse to believe that. Mr. Giuliani’s endorsement means a great deal to me and I look forward to campaigning with him as this race continues.”

Mr. Wilson, 38, a graduate of Harvard University and the Harvard Business School, was the first person in his immediate family to go to college. After many successful years at four highly distinguished firms, Mr. Wilson was selected to serve on the President’s Auto Task Force in 2009 – the group responsible for the overhaul of General Motors and Chrysler. He was the only Republican to serve in its leadership team. Mr. Wilson, who was born and raised in Johnstown, NY (Fulton County), is the son and grandson of working class Greek immigrants. He currently lives in Westchester County with his wife, Eva, and their four children.

It is rare for someone of Mr. Wilson’s talents and expertise to compete for one of the most important and least glamorous jobs in state politics.

Mr. Wilson went to Harvard Business School and worked for Goldman Sachs, the Blackstone Group and Silver Point Capital. Mr. DiNapoli tries to make that résumé sound tainted, but the investment and management skills exhibited with General Motors are just what are needed for New York’s financial and ethical blight.

Mr. Wilson promises to strengthen ethics rules, make better audits of state agencies and drastically reduce the $350 million a year in investment fees paid for the state’s pension fund.

http://www.nytimes.com/2010/10/16/opinion/16sat2.html?_r=1&scp=5&sq=harry%20wilson&st=cse

well, you changed my mind...

Me too. I was leaning toward Wilson until I read Riversider's endorsement. Now I will vote for DiNapoli.

Mid..E.. as a reader of a redbaiter post, you are a patient, lonely person

he's applying pasties, busy as ever

If you want NYS to keep spending its way into disaster and more job losses, vote for DiNapoli.

It will be a sad reflection of New York State if DiNapoli and Schneiderman win.

Thank you, LICComment; you confirmed that my choice of DiNapoli and Schneiderman is the right one (although the Koch-Bloomberg endorsement of Donovan already had me inclined toward Schneiderman).

MidtownerEast you clearly sees things as Republicans vs Democrats and can't see past that. You don't strike me as someone who is able to take a cold hard look at the credentials and prior accomplishments of both candidates.

Denapoli has conducted himself very poorly in the campaigning taking the low road, the "Wall Street Wilson" vs "Albany Tom" narrative and is clearly not as well qualified, considering his experience was comes from being a state assemblyman, vs a that of a restructuring and financial expert.

This is one of those times you want a Wall Street Veteran brought in. He has intelligent clear cut ideas on how to fix things, and his work at G.M. clearly shows the experience. The New York State Budget and viability of it's pension obligations is at stake.

It's Riversider vs. the world. Keep endorsing and annoying the fuck out of everyone. I'm voting for diNapoli/Scheiderman, even though I was leaning Wilson/Donovan, just because of you.

Let's list some other "Wall Street Veterans": Larry Summers, Tim Geithner, Hank Paulson, Mike Bloomberg (the list goes on). Their Wall Street experience has closed them off to anything other than business as usual. It is mind-boggling that any politician would be touting his or her Wall Street experience in this election; that, by itself, shows incredibly poor judgment. Pandering to Wall Street is how we got into this mess. I am certainly open to voting for a more qualified Republican, but not one who relies on his expertise in the financial markets that are the root of the problem.

By the way, are Riverside and LICComment the same person? The posts seem to come in tandem, with one supporting the other. Just wondering ...

Strange.

I'm wondering the same thing about you.

Maly, if cutting off your nose to spite your face works, so be it.

Columbia -- Me and Maly the same person? Nope, but it would be nice to have two personalities so I can get twice as much done. Why are your comments in gray?

You're getting too obvious.

Liberals actually like the fact that New York State has lost tens of thousands of jobs throughout the State due to its irresponsible tax and borrowing policies the last 30 years?

I am amazed at how little substance goes into liberals' arguments for their policies or politicians. They provide nothing but inaccurate talking points. "Wall Street is the cause of all problems!" type nonsense.

define vacuous talking point:

"Liberals actually like the fact that New York State has lost tens of thousands of jobs throughout the State due to its irresponsible tax and borrowing policies the last 30 years?"

and yours is a very lonely perspective if you don't think wall st had anything to do with our current economic woes

I may be missing something LIC, but having read your post, you kidn of lost me.

You seem to have tarred every liberal with the same broad brush and have complete knowledge on what they they like.

As an example , I'll point to Mario Cuomo who is a thoughtful liberal and at one time was thought to be headed toward either the Presidency or the Supreme Court. Despite his liberal leanings, but having read and listened to him many times over the years, I would not be inclined to think that he would take even an ounce of satisfaction from seeing jobs leave the state or the knowledge that our state finances have deterioriated.

RS, I'm not opining on particular liberal politicians. Just like conservatives, some are more respectable and practical than others. I am commenting on liberal policies and those who blindly support them.

While I can respect Mario Cuomo as a person, he was an awful governor. He began the massive expansion of government spending and borrowing, and big government, that started the job exodus out of New York State. His terms in office were characterized by high crime, irresponsible budgets and union give-aways. Things were improved somewhat after he was gone, but the state went right back to the failed liberal policies that have gotten us to where we are today. I wish NYS had a Chris Christie-type to run for governor.

And don't forget that noted liberal, George Pataki. LICComment said the state has had irresponsible tax and borrowing policies by "liberals" for the last 30 years, forgetting, I guess, about the Pataki interregnum. As Riversider points out, you lose all credibility when overstate.

This thread is so stupid, it tried to put on pants even though it has no legs.

midtowner just proved that all he can see are party labels. The Dems tell him what he should support, and he jumps.
Pataki was better than Cuomo, especially in his first term, in passing more responsible budgets, but then Pataki gave in to liberal interests toward the end and became ineffective.

New York is in trouble for the same reason that most other states in this country are in trouble. The Bush economic policies bankrupted the country and the Obama Administration has failed to counteract them (for which they should be excoriated). It is not massive spending, big government, etc. It is the collapse of the economy, plain and simple. Defaulting to the same old stereotypes -- liberals spend, conservatives cut taxes -- is of absolutely no use because (a) they are true; and (b) they have nothing to do with the fix we are in.

Of course, LICComment's response will be: "You liberals are always advocating [blah, blah]." Attacks don't help. If you have an idea -- a real idea and not simply a regurgitation of something you heard on Fox -- let's hear it. We could use something new.

Sorry -- meant to say stereotypes "aren't" true; typed too fast!

The system is geared toward spending. There's money that's put out and if you don't grab it for your constituency then the next guy will. It's a dilemna for any politician. Bringing home money for local projects is how you get re-elected.

Hypoethical example. The Federal Government comes out with mass transit grants and/or highway money that the States must apply for. You don't think every local congressman isn't going to do his best to make sure his local districtu gets some funds.

Yes, both Republicans and Democrats do that. One prime example is the New Deal. Next?

We are in a poor economy now because the federal and local governments spend, borrow and tax too much. Conservatives strayed into this, but they are more likely to bring in better policies than the liberals.

Of course people like midtowner don't talk substantively. They just say "Bush and Wall Street did it- vote for us for huge government and tax the rich and we'll fix everything".

38% of current deficits directly attributable to bush tax cuts, and wars in iraq and afghanistan

Nobody ever gets passed the partisan talking points of either party!

Like it or not the President is the guy in charge. Bush owned the problem that Obama inherited, and Obama having been in charge for two years now, can no longer blame his predecessor.

And of course a dialogue that consists of pointing fingers doesn't really solve any problem.

"Let's list some other "Wall Street Veterans": Larry Summers, Tim Geithner, Hank Paulson, Mike Bloomberg (the list goes on). Their Wall Street experience has closed them off to anything other than business as usual."

Let me see... you are name-checking Bloomberg as evidence *against*. Thats funny.

Lets try a list of the folks who didn't work on wall street yet helped put us in this mess.
Alan Hevesi
Charlie Rangel (ways and means)
Pedro Espada
Sheldon Silver

(all folks who should really just be in jail)

I've barely gotten started, and unlike you, I didn't stray from NY... and already its a slam dunk.

doesn't get any more "business as usual" than those I noted.

And Bloomberg as "business as usual"? Now you're just making me laugh.

So much for midtowner and credibility.

But Obama and the liberals said for years that Bush should have had more of a presence in Afghanistan and less in Iraq. If that were the case, would the spending on the military actions been less, or just shifted from one to the other. Dems can't blame Bush for Afghanistan when practically everyone voted to take military action there and Dems have for years said we should be doing more there.

And for the record, I think you lack any credibility if you think we should not have taken military action in Afghanistan after 9-11.

what kind of idiot goes to war while lowering taxes? how could that possibly work?

agreed and the tax cuts certainly didnt launch the economy--the economy failed--and the surpluses bush inherited were simply squandered

and tora bora is where we should have focused after 9/11--not iraq--a wasteland of squandered lives limbs and money--all bush's doing--cheney-rigged "intelligence" and all

The economy was in recession when Clinton left office. The problem wasn't tax cuts, it was too much spending.

so...if there hadn't been a tax cut, would the deficit be less, more or the same?

I guessed you missed the surplus when Clinton left office. Bush turned that into massive deficits by pissing money away.

"You" being LICComment.

where did you come from? who were you before 9 AM today?

Big problem with George W's prescription is he only gave us half of it. Doing the tax cuts without the budget cuts was pure folly. He needed to keep spending in check, which he didn't.

I can't really ascribe any thinking to W because he was just too stupid to work out anything complex and his henchmen had no interest in doing anything but line their pockets. The Obama Administration may be making a lot of mistakes, but, for the most part, they are not as dumb and/or venal as the Bushies. You'll recall that most Republicans were mortified by how the Bush years turned out; nothing that has happened since then changes the fact that his presidency was a disaster.

The spending he needed to check was all the money paid to Halliburton.

I guess midtowner missed my comment that the problem was too much government spending, not the tax cuts.

I find Obama's actions to enlarge central government's role over people's lives, and to alienate our friends overseas while pandering to our adversaries because of his view of America being a negative influence in the world, to be venal.

Get a dictionary. Venal means doing something for money. What you are saying about Obama is completely different. And utter nonsense.

See why I prefer Riversider? Wrong, but at least cogent.

i thought you were moving on.

Venal means doing something for money...it means bribery!
Work means doing something for money.
Work does not equal bribery

Can somebody clue me into Columbia County? What have I done to anger him/her?

Columbia County -- I all the sudden recall how much I dislike bullies, so I'll go when I feel like it. Why do you tell people to shut up for no reason? If you have a reason, say it.

you are an obvious phony who has manufactured yet another identity for idiotic purposes.

I don't get it; there is obviously some history here that I don't know about. I didn't have any purpose on this thread except to respond to the arguments from Riversider and LICComment, the latter being especially ridiculous. I assumed, from some other comments, that you were equally opposed to what they are saying but I apparently pissed you off. I guess it was because I partially agreed with Riversider on a minor point (broken clock right twice a day and all that) or because I asked about the shading of your comments.

Sorry for intruding on your party and adios. I am sure you can deal with those two just fine.

can we count on your finally leaving?

Does the second avenue bus go down to midtown east?

midtowner must believe that if you have a different opinion than he or she, that you are ridiculous. This is the typical liberal response to substantive refutations of their arguments.

http://www.businessweek.com/ap/financialnews/D9J3IHFG0.htm

The Republican running for New York comptroller said his analysis shows that outside investment managers who are paid millions of dollars by the state's public pension fund lost money at a faster pace than passive index funds in the stock market downturn.

Harry Wilson, a former hedge fund manager, said that makes little sense -- and it's an issue for other retirement funds as well. "It is a huge problem. Relatively few people in the world outperform the indexes," he said.

Wilson's Common Retirement Fund analysis showed actively managed equities in the portfolio lost 39.4 percent in the 2008-2009 fiscal year after fees were paid, compared with 38.2 percent lost for the S&P 500 historical returns. Actively managed stocks lost 5.9 percent over five years, compared with 4.9 percent for the index.

The outside managers were paid almost $350 million that year to handle more than $11 billion and lost more than $4 billion of it, Jonathan Trichtler, policy analyst for Wilson's campaign, said Tuesday. Wilson's proposal is to select only outside managers "who can generate true alpha, or outperformance relative to the market, net of fees."

One disagreement between the candidates is the projected return on investment. Wilson said that in the 1980s, before inflation and market bubbles enticed them into more stocks, pension funds invested mainly in treasury securities, corporate bonds and other less risky assets, with an assumed steady return around 4 percent to 5 percent. He said the fund should move more realistically in that direction.

A lower estimated investment return would mean higher contributions.

Now it is clear; Wilson is the shill of Steve Rattner:

http://blogs.villagevoice.com/runninscared/2010/10/harry_wilson.php

Reason alone not to vote for Wilson.

Sorry for intruding on your party and adios.

???

Columbia County -- Changed my mind; ever do that? I've been patient and tried to avoid a confrontation with you because I think it is likely we are on the same side of the political spectrum. You, however, seem more interested in squelching the discussion because, for some reason, you don't like it (although you haven't said why). That gets my back up and makes me want to post, especially since I think this Wilson guy has been given a free ride and needs to be torn down. If you aren't interested in the topic, just go to another thread. I haven't abused anybody or violated any rules. If you think I have, report me. If you have something substantive to add, go right ahead. But just repeating what people wrote in an attempt to intimidate them and make them leave is troll behavior.

whats the difference between being a liar and changing your mind?

And you just proved my point. Lying about what, exactly? If you don't say what you are talking about, I can't respond to it.

"Mr. Wilson is tapping his personal fortune to outspend his opponent, whom he calls a “political hack.”

Why would he spend so much of his OWN money on a political office with no visibility, no prestige, and little to no room for advancement? What are his motivations? To steer state money to his cronies on Wall St.? I can see spending tons of money on governor or US Senator, since that is a great way to prep for a White House run, but state comptroller is a DEAD END job. \

"Mr. Wilson went to Harvard Business School..."

So did Bush, Rick Wagoner, Jeffrey Skilling, Henry Paulson, and Chris Cox.

http://www.youtube.com/watch?v=UuwselGC7UQ&feature=player_embedded

So how is this video clip -- consisting of Wilson answering incredibly softball questions from moronic reporters (basically, "how does it feel to be in such a close race?") -- at all responsive to the claims made in the Voice article or any of the issues raised about his candidacy? Irrelevant and dumb clip. I want that 7 and half minutes of my life back.

Columbiacounty, when did you move to midtown east?

Where is the Truth when you need it?

Who are you kidding, you can't handle the Truth.

You're the one who needs the Truth.

That's the best response you could come up with?

Wait -- now I am being accused of being Columbia County? That guy has been busting my balls about being someone else (Riversider, I think). I'm neither; you guys are raising paranoia to a Richard Nixon-level art form.

We all know the Truth about you.

Here we go again.

Columbia Count -- You have confused the living shit out of me. What, precisely, is the problem?

Liar

About what?

Liar

Imposter

Phony

You won't engage or say anything except "phony" or "liar" or "imposter." Are you six years old? I don't know who you think I am but I'm starting to think you must be Riversider in another guise because you appear everytime I dare to criticize Riversider or his/her ilk for moronic posts.

Jackass

Wait a minute, I think you are columbiacounty, but columbiacounty thinks you are Riversider and that I am Riversider, and you think columbiacounty is Riversider. But who is Riversider?

Seriously gone down the rabbit hole with Columbia and Gophouse. You guys can work this out; it is just too stupid for words.

Jackass

So why don't you stay true to your word and go away and stay away?

Why do you appear on posts where your only comment is "go away" or something of that ilk? Why do you bother? I did a search and saw some older threads where you used to contribute. Now it is just anger and bile -- sad, dude.

Is "ilk" the right word in this circumstance?

Yes, since I am not referring to a Scotsman:

"a type; class; sort (esp in the phrase of that, his, her, etc., ilk) people of that ilk should not be allowed here of that ilk Scot of the place of the same name: used to indicate that the person named is proprietor or laird of the place named Moncrieff of that ilk"

Although I did use "ilk" twice in the same thread -- sorry.

Ilk makes a reference to people, not comments or objects.

Irregardless columbiacounty, I understad what you are trying to say.

http://www.vocabulary.com/definition/ilk

Wrong. It also means "a category of things distinguished by some common characteristic or quality."

And stop calling me Columbia County.

What happened to adios?

Well Harry lost. It's remarkable how close he came considering he was a virtual unknown before the election and the traditional Democratic base in NY. Harry raised some very legitimate issues and hopefully this will serve as a wake-up call to Albany that the public expects better accountability from our elected leaders.

RS, it's good to see you trying to stay optimistic. NYers voted to keep all the same people who have been beholden to liberal special interests that have been harmful to this state for years. Unbelievable.

Hopefully the changes being made across the country can save NY from itself.

So Riversider, columbiacounty, LICC, what do you think of Schneiderman v Trump? http://www.politico.com/story/2013/08/donald-trump-university-sued-new-york-95897.html

http://www.zhlaw.com/trump-university-2nd-amended-complaint-12-16-10.pdf

Sounds like this was a school that preyed on the stupid.
From the docket.
-------------------
118. In addition, many candidates came directly to Trump University from other
seminar companies- where they had worked as motivational speakers or sales
representatives- or employment having little if anything to do with real estate investment.
119. Trump University was also aware that some of its instructors and mentors who had
been investing in real estate had filed for Chapter 7 bankruptcy protection shortly before coming
to work at Trump University, belying any claims of success as real estate investors.
120. Despite having been presented with information that candidates' claims were
unverified or unsubstantiated, Trump University retained these individuals as seminar instructors,
or as mentors to Trump Elite students.

No comments yet from C0lumbia C0unty? Wonder why

http://valleywag.gawker.com/donald-trump-offers-treats-to-little-kids-who-go-to-his-1216877008

http://pagesix.com/2013/11/02/schneiderman-dating-rushdies-sexy-ex/