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Monday, October 24, 2016

How An Obscure Federal Rule Could Be Shaking Up Presidential Politics

How An Obscure Federal Rule Could Be Shaking Up Presidential Politics

by Jake Bernstein, ProPublica.


New Jersey Gov. Chris Christie’s allies seemed to give a big old raspberry to presidential aspirant Mitt Romney on the front page of the New York Post. Anonymous sources told the paper that Romney demanded Christie agree to resign the governorship if he was offered vice president on the GOP ticket. Christie was said to have declined since he didn’t think Romney would win.

A spokesman for Christie said they were not commenting on the Post’s report and suggested contacting the Romney campaign, which did not respond to emailed questions.

The possible need for Christie’s resignation arises from federal rules that forbid the employees of Wall Street firms from giving money to state officials running for federal office if the firms do business with that state. The rules affect firms that underwrite municipal bonds or advise state pension systems on their investments. If the public official — in this case, the governor of New Jersey — has any influence, directly or indirectly, in selecting the pension investment advisers or bond underwriters, the firms can’t give campaign contributions.

As governor of New Jersey, Christie, ultimately through a complicated process, appoints nine of the 16 members of the state investment council that chooses investment advisers. This would likely trigger the investment advisor rule and would have cut off an important spigot of campaign cash for Romney.

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Copyright 2012 The National Memo
  • widollar

    “Christie was said to have declined since he didn’t think Romney would win.”

    Even the faithful have their doubts. Lets hope Christie is correct!

  • The man is smarter than I previously gave him credit for. Nobody wants to be the latest number two to lose an election. That is the highway to nowherevile (see Palin) and the end of a promising career.

  • After watching Christie on TV, it looked as though he might be running instead of the Mitt for the highest office in the and. His ego was second only to his girth . . .

  • desertdustoff

    What an ego whale boy has, but it proves what is truly most important to the gop (greed over people) party…mitler and lyin’ ryan need that money to continue to lie about the repugnican party and fool their brainwashed,tea baggin’ (kkk) serfs throughout the south into believing that the party cares about them. Meanwhile, these people are one step closer to 3rd world status. Ignorance is not bliss; it is a gop(greed over people), especially repugnican women, voter!! Shame on you repugnican women…selling out to your lord red neck husbands>

  • howa4x

    As a new Jersyian We all wish he would leave. He is boastful of his accomplishments that are all smoke and mirrors. All he did was kick the can down the road on big issues like full funding of the pension. He fights wiht everyone and if you disagree like a non partisan budet anaylist did on his project revenue numbers, Christe blasted him in the press calling him names like a school yard bully. All because he wanted to give a tax cut to the rich and the money wasn’t there. the democratic majority in both houses stopped him from raiding the transportation fund for the same purpose. His big show case was fighting with the teachers on reform reform, and that was only done with the help of the dems, and it’s the low hanging fruit since we have 591 school districts with supers making as a mean $158k. He could have consolidated the districts but that requires courage and bullys usually don’t have that.
    So too bad for us, that we are stuck with him

    • Gammaanya

      Vote him out on next election but knowing NJ people are pretty naive and gullible and pick him. You voted, you got it you live with it and next time people of NJ should grow some brain and common sense. Bully is the most cowardly person on face of earth, they bully others to lift them self up, CC – Chubby checks up/down are hard to be lifted up – he got a potty mouth and no respect for anyone. His head is so swollen that he will need a biggest sombrero to keep him from overheating in his rages.It is a time to put him on strick diet, employment diet. No performance up to par – no job.

    • CAThinker

      Amazing that this guy is supposed to be the next big Talipublican star… Or not (amazing)… He fits their profile… talks tough without actually being tough… He reminds me of the fat kid down the street that was always doted upon and never knew what it was like to be told “no”… A composite of all the brats from Willy Wonka and the Chocolate Factory…


        only read 4 comments,liberal name calling you people ought to grow up, you hate to see anyone get ahead, that is obamo

  • Kansan

    I think the reason that Christie and Marco Rubio weren’t given any consideration is that they’re both in serious ethics and likely criminal trouble due to their relationships with the for-profit prison industry. Sam Dolnick has done a formidable series of articles on Christie’s “joined at the hip” relationship to the state’s biggest prison contractor.

    Rubio could fall over the scandalous Blackwater River prison contract in Florida.

    Romney may have made a killing on Corrections Corporation of America REIT stocks 13 years ago, with a strong possibility that he did so with insider information. Bain may have made up to $80 million on the failing stocks. Compare that to the prison sentence given to Democratic donor Martha Stewart over her saving $45,000, thanks to insider info, by dumping a stock just before it fell.

    • I would not be surprised if Romney’s reluctance to make his tax returns public is because there is a pattern of short term profits that may raise eyebrows and an IRS investigation into the possibility of insider trading.



    Does anyone really care about what this big mouthed lard ass has to say?