Chicago Lawmakers Call for SEC Investigation of Mayor Rahm Emanuel

[Guy Whitey Corngood]

http://www.ibtimes.com/chicago-lawmakers-call-sec-investigation-mayor-rahm-emanuel-1725673

Chicago lawmakers are planning to send a formal request to the Securities and Exchange Commission for an investigation into donations to Mayor Rahm Emanuel from executives at financial firms that manage city pension money. The donations were first documented by International Business Times in a report quoting former SEC and federal prosecutors saying the contributions may run afoul of the agency's pay-to-play rules.

The aldermen scheduled a City Hall news conference Tuesday to announce the action.

In a letter to Andrew Ceresney, who directs the SEC's division of enforcement, Aldermen Bob Fioretti, Scott Waguespack and John Arena write the donations constitute "pay-to-play actions" that "have violated the public trust and are a breach of the fiduciary duty" by the Emanuel administration officials who oversee the city pension systems. They say "Chicago has a deep history of pay-to-play" and that their "goal is to end these tactics and protect the citizens of Chicago and employees' investments."

In a speech last week, Ceresney vowed increased enforcement of the SEC's pay-to-play rule, which was passed in 2011 after an influence-peddling scandal at the New York State pension system.

[alcibiades_mystery]

1. Fioretti is running against Rahm

Just sayin'

[Guy Whitey Corngood]

2. I know that. Doesn't mean he doesn't have a point. nt

[TheNutcracker]

3. This is just great...he's too close to Obama for the stink not to rub off.

As bad as Rezko.

[Stellar]

6. Are you tying Obama to Resko?

Please explain.

[Cha]

7. LOL Oh, guilt by association, huh. Might expect someone to start whining about the President.

Oh yeah, and Hillary's trying to stick Rezko on then Senator Obama didn't work, either.

The President has proven himself while you're just throwing cheap, nasty, ignorant pot shots.

[maced666]

4. While Wall Street runs free.

Repukes.

[hugo_from_TN]

5. Good.

[blkmusclmachine]

8. Good