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Thread: Send Naples Packing

  1. #1
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    Send Naples Packing

    OK- this was in the paper and all the government-bashers have been strangely silent....what gives? Oh, she's a Republican! Thats it!!!

    Naples favors one underwriter
    ------------------------------------------------------------------------
    GOP backer gets 80% of county bond business, even at $500,000 higher cost
    By MATTHEW SPINA
    News Staff Reporter
    4/6/2005

    Since County Comptroller Nancy A. Naples took office 11 years ago and inherited the sole right to pick Erie County's bond underwriters, she has given 80 percent of the work - $1.1 billion in borrowing - to one politically connected underwriter.

    And in the only case where records are available, it cost taxpayers more to go with this underwriter than with a comparable one that would have charged $500,000 less.

    The underwriter, Paul Atanasio, donates generously to Republican causes, including those favored by Naples' patron, Rep. Thomas M. Reynolds of Clarence. Gov. George E. Pataki has named Atanasio to two panels, and he is a longtime friend of state Conservative Chairman Michael R. Long, a Brooklyn liquor store owner whom Atanasio hired in 1995 as a $5,000-a-month financial consultant.

    Atanasio, active with governments across the state, has worked for three underwriting firms since Naples, a Republican, won her first election. Each time he landed at a new firm, Erie County's business followed - 14 of 24 bond deals and $5.25 million in fees over the years, county records show. Eight other firms split the designation of "lead underwriter" on the remaining 10 issues.

    In one instance, Atanasio's mother in Queens County gave $1,000 to Naples' re-election campaign, though rules enforced by the Securities and Exchange Commission forbid underwriters or their "conduits" from donating to candidates with whom they do business but for whom they cannot vote.

    In another instance, a political action committee to which Atanasio contributed sent $10,000 to Naples' unsuccessful congressional campaign last year.

  2. #2
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    Re: Send Naples Packing

    Originally posted by WestCoastPerspective
    OK- this was in the paper and all the government-bashers have been strangely silent....what gives? Oh, she's a Republican! Thats it!!!

    Naples favors one underwriter
    ------------------------------------------------------------------------
    GOP backer gets 80% of county bond business, even at $500,000 higher cost
    By MATTHEW SPINA
    News Staff Reporter
    4/6/2005

    Since County Comptroller Nancy A. Naples took office 11 years ago and inherited the sole right to pick Erie County's bond underwriters, she has given 80 percent of the work - $1.1 billion in borrowing - to one politically connected underwriter.

    And in the only case where records are available, it cost taxpayers more to go with this underwriter than with a comparable one that would have charged $500,000 less.

    The underwriter, Paul Atanasio, donates generously to Republican causes, including those favored by Naples' patron, Rep. Thomas M. Reynolds of Clarence. Gov. George E. Pataki has named Atanasio to two panels, and he is a longtime friend of state Conservative Chairman Michael R. Long, a Brooklyn liquor store owner whom Atanasio hired in 1995 as a $5,000-a-month financial consultant.

    Atanasio, active with governments across the state, has worked for three underwriting firms since Naples, a Republican, won her first election. Each time he landed at a new firm, Erie County's business followed - 14 of 24 bond deals and $5.25 million in fees over the years, county records show. Eight other firms split the designation of "lead underwriter" on the remaining 10 issues.

    In one instance, Atanasio's mother in Queens County gave $1,000 to Naples' re-election campaign, though rules enforced by the Securities and Exchange Commission forbid underwriters or their "conduits" from donating to candidates with whom they do business but for whom they cannot vote.

    In another instance, a political action committee to which Atanasio contributed sent $10,000 to Naples' unsuccessful congressional campaign last year.
    yeah, as much as I admire Naples and her tanacity, sadly it appears we now need a full and thorough investigation regarding her, her department, her husband and our money.

    And it would be a damn shame if we have discrepancies. But in the event we do, lets flush her too the hell out of here and send her up the river.

    But lets wait until she's been investigated before we convict her. She may be on the level.

    Remember, the news is a rag.

  3. #3
    Member 300miles's Avatar
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    I at least want Naples to stay as long as Joel is in office. She's the only one who stands up to him. She's like a counter-balance.

    But if she's done anything inappropriate, she should face the consequences as they all should

  4. #4
    Member WestSideJohn's Avatar
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    I don't see how spending $500,000 more of our money so she can give business to her pal can be considered "on the level." It might be legal. But it's not right.

    See, that's the problem with "holier than thou" - it won't work unless you're actually holier.

    Treachery made a monster out of me

  5. #5
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    At least the News did print it.
    It lets us know that this thing is like an iceberg--lots more to come.

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    Re: Send Naples Packing

    [QUOTE]Originally posted by WestCoastPerspective
    [B]OK- this was in the paper and all the government-bashers have been strangely silent....what gives? Oh, she's a Republican! Thats it!!!

    Look, West Coast Perspect

    Now isn't the time to turn on each other-we've got enough people to keep us busy for a long time. I take it we're all on the same side, aren't we? Talk about government bashing--lets keep it at that and not each other.
    Besides, I've forgotten what party I'm with, a long time ago. This whole thing really transcends party lines.

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    This does not look good for Nancy. The bit about "holier than thou" certainly fits here.

    I can understand that she might have difficulty in producing documents, aside from the natural tendency by politicians to stonewall: her staff has been cut and next week she will have two sets of auditors asking her for information. To have one set in usually dominates the time of a company's finance staff.

    Let's see where this leads.

    At the very least, it sounds like another area where competitive bidding should be the rule.

  8. #8
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    She denied the whole thing on the radio yesterday. The newspaper reporter didn't wait for the information he requested via FIA. They went ahead and published the report anyways, and Naples says (unlike most politicians - "OOPS! Is that still in the budget? Tee hee!") that she stands behind every one of those deals, and has the paper trail to back it up.

    Not the kind of comments you hear from someone that has something to cover up *coughHoltcough*

  9. #9
    SolarEclipse: She claims the News didn't wait for the response? Here's a quote from the article:
    Naples has provided none of the data sought under the Freedom of Information Law, explaining that her staff does not have time to gather and copy the records. "I can't justify stopping one of my employees from paying vendors to work on that request," she said.
    Sure she'll say that she "stands by her deals". What else is she going to say? Here's a gist of our money flowing in this guys Atanasio's direction:
    Of the first six bonds Naples and her staff arranged, she selected Atanasio for three, when he was with Chemical Securities.

    Atanasio left Chemical for Bear Stearns in 1996, and Bear Stearns was chosen for eight of 12 bond issues in the next seven years, until Atanasio arrived at UBS Financial Services. UBS got three of the six deals available since then. Naples had never picked UBS Financial Services before Atanasio's arrival there.
    I don't like the News one bit; but if this crisis is forcing all of these players to turn on each other, this can only be good for us taxpayers.

    And why are you comparing her to George Dolt ? Just because he's a bigger liar doesn't mean that anybody else should get a free ride!!

  10. #10
    Member SolarEclipse's Avatar
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    Originally posted by hacktivist
    SolarEclipse: She claims the News didn't wait for the response? Here's a quote from the article:
    Sure she'll say that she "stands by her deals". What else is she going to say? Here's a gist of our money flowing in this guys Atanasio's direction:
    She could say what Holt said - "Bye now! *click*" On the radio she said that she has a certain number of days to provide the information, and they didn't wait the entire amount of time. Sounds more like irresponsible reporting to me. I'm sure her office has been flooded with FIAs recently. Why should she drop everything immediately to provide the information when she has a time frame to do it in?


    And why are you comparing her to George Dolt ? Just because he's a bigger liar doesn't mean that anybody else should get a free ride!!
    Holt flat out tried to cover his stuff up. I think the jury's still out on this one. Nothing has been proven in this case. If it's proven that she's guilty, so be it. Kick her out too.

  11. #11
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    dem or rep is there realy much differance

    If they are in office now I'm against it. Just like Groucho Marx said "i'm against it" I have listened to so many politicains state they are for children for poor people for the handicaped and on and on .but they never state what exactly they will do, newbies for me. what we have now has messed things up as bad as it can get. I want everyone replaced even those I think are good. I liked Joel at first. I thought tony would be better then Jimmy six pack I liked Naples too. look what they gave us. I even thought Pataki would be better then Mario was. he might be but not enough to help us. Now I just want new faces new names and I dont care what party or if they have a party as long as they are new
    One good thing about growing old is your secrets are safe with your friends they can't remember them either

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    legally, she probably didn't do anything illegal. BUT, it sure smells to me!!

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    But no mention in The News of the Chairman of the Legislature not paying his city or county taxes.

    What's going on?

    Are they trying to show that they're all corrupt?

    Or deflecting attention from George Holt?

  14. #14
    SolarEclipse: not the brightest star of the pack, are ya?

    Just why are we even mentioning George Holt in a discussion about Naples? What Holt does/doesn't do has absolutely no bearing on what Naples should/shouldn't do.

    Here's another difference for ya: Holt goes to the men's restroom, while Naples goes to the women's restroom! Wow..

  15. #15
    Member SolarEclipse's Avatar
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    Originally posted by hacktivist
    SolarEclipse: not the brightest star of the pack, are ya?
    Well I could never compete with someone who offers such brilliant insight such as:

    Originally posted by hacktivist
    Holt goes to the men's restroom, while Naples goes to the women's restroom!
    Jeez... a topic talking about alleged corruption by a county official... and a different corrupt county official is mentioned. Hmm... no. You're right. No relevance there.

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