The Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. have over the past 2 1/2 years received taxpayer-financed contracts to help manage the sale of more than $3 billion worth of bonds for New York state, according to a review of state records by International Business Times. The three banking companies secured this lucrative line of business during the same period they delivered more than $132,000 in campaign contributions to Gov. Andrew Cuomo through political action committees under their corporate control.
- JPMorgan’s PAC gave Cuomo $15,000 April 10, 2013, and the Cuomo administration announced the firm would serve as an underwriter on a $46 million bond issue May 30, 2013.
- Citigroup's PAC gave Cuomo $15,000 May 1, 2013, and Cuomo officials named the firm an underwriter on a $61 million bond June 19, 2013.
- JPMorgan’s PAC gave Cuomo another $10,000 July 2, 2013, and the Cuomo administration named the firm an underwriter on another $36 million bond in August 2013.
- Bank of America’s PAC gave Cuomo $15,500 July 2, 2014, just after the firm had been named an underwriter on a June 2014 bond. Cuomo’s administration would subsequently name the firm an underwriter on a separate $185 million bond in March 2015.
The contracts to the banks went through a non-competive bidding process.
Can you say cha-chinggg!!!
Sony, News Corporation, REBNY, now the banks - who doesn't Cuomo hit up in the Quid Pro Cuomo game?
I dunno if the feds are looking into any of this stuff, but to be honest, the amount of money Cuomo's taking makes the Skelos stuff look small.