How Very Surprising.....NOT!

[PaceAdvantage]

http://www.cnn.com/2003/ALLPOLITICS/11/26/elec04.g.spitzer.ap/index.html


Funny, they don't mention NYRA at all in this story, which just goes to show what a "pimple on the butt" NYRA's "offenses" really are....

However, I shudder to think what might happen if Spitzer is elected governor....

[highnote]

I've always felt Spitzer has strong political aspirations. I'm glad he's going after the mutual funds. One of my wife's funds in her IRA was affected by illicit trading. The fund sent us a letter. It was like reading a letter from a little child who is ashamed for having done wrong and is now asking for forgiveness.

We work so hard to make a living and provide for our families and our retirement and then we get treated like dirt from the likes of Enron executives and others who have no respect for their investors and are only interested in lining their own greedy pockets. I hope they all go to jail.

And by the way, who cares if Spitzer's actions toward Wall Street are politically motivated. If they did wrong, why shouldn't they be investigated and punished if found guilty? Are they exempt from investigation? I'm glad someone's looking out for us investors. No matter what he does, as A.G., his detractors will claim he is politically motivated. That's politics.

Lastly, NYRA should be counting their lucky stars that Spitzer has found bigger fish to fry.

[PaceAdvantage]

I still don't think I've read any concrete EVIDENCE that NYRA (as a CORPORATION) actually broke any laws....

Somebody clue me in....

[VetScratch]

Perhaps NYRA stories have become so humorous that they will soon be reported only in the Entertainment Section of the news.

For example, NYRA has apparently hired a new security chief to guard the empty vaults. :)

http://news.bloodhorse.com/viewstory.asp?id=19420

[PaceAdvantage]

VetScratch, does this story surprise you? Will it make Mr. Cook perform his duties in a less than 100% professional manner? He sounds more than capable of doing the job he was hired to do. His background seems to be just what NYRA needs in security management....

Mudslinging has come to a new low regarding NYRA. Somebody is out to get them BIG TIME, and the fact that this story even sees the light of day exemplifies this to a "T"

[VetScratch]

PA,
My bet would be that Cook is very capable and trustworthy... all good private citizens should support candidates; otherwise, candidates become the pawns of wealthy special interest groups.

Because the exit of Cook's predecessor was not discussed, my take on the story is that Pataki is fed up and has put his foot down by insisting that NYRA put security in hands that the state can trust (which is implied by Mr. Cook's credentials).

The darkly humorous aspect is that "the horses left the barn" before Cook's security watch started. Horsemen everywhere are hoping he can put them back.

[VetScratch]

The ray of hope in recent news stories is that friends of NYRA, like Pataki, appear to be taking control of the situation.

Like any other organization dependent on legislative decisions, NYRA has lobbied its agenda up and down the NY political ladder. When benefactors support a lobbied agenda, it is always implicit that the benefactor (in this case NYRA) will not drag its supporters into the morass of an ugly scandal.

While detractors and accusers like Hevesi and Spitzer get media attention, the real power to effect reform always resides with powerful supporters like Pataki. Nothing threatens NYRA more than being left high and dry by its political allies.

In the usual case, a coalition of allies intervenes to effect reform before the judicial system is asked to render judgement. In this light, I view the way Cook's appoinment was announced as an indication that NYRA's supporters have served notice that they are fed up.

I think conciliatory remarks by THA attorney Alan Foreman suggest that NYRA's supporters have signalled a willingness to negotiate in good faith, even if that means keeping NYRA officials out of the loop until agreement is reached on a plan to re-start the VLT implementation.

When Pataki drops his proposal to exclude breeders and horsemen from VLT subsidies for the first two years, and horsemen receive a credible guarantee that restoration of their monies will not be subordinated to other debt obligations, I believe other matters will get resolved pragmatically so that the VLT project can proceed.

Given what is at stake, maybe the horsemen's funds can be bundled into the financing proceeds that MGM has reportedly offered to arrange if legal contingencies are resolved.

[VetScratch]

PA,
Mudslinging has come to a new low regarding NYRA. Somebody is out to get them BIG TIME, and the fact that this story even sees the light of day exemplifies this to a "T"The Cook story didn't get an editorial thumbs up without soliciting a reaction and/or a prepared statement from NYRA. Wasn't it evident from the story that NYRA has been muzzled, and NYRA supporters led by Pataki simply installed someone they can trust (Cook). The game is on 5th Street, and NYRA's cards have been folded.