MF Global admitted to federal regulators that
money had been diverted out of customer accounts, according to a federal
official who said the move violated the law.
The Wall Street
brokerage, which filed for bankruptcy protection Monday, acknowledged the
shortfall amid mounting questions from regulators as they went through the
firm’s books while trying to facilitate a sale to Interactive Brokers Group, the
official said. Regulators still don’t know where the customer funds went, who
directed the move or how widespread the practice was, the official said.
Oceanport Councilman Joe Irace Seeks To Bring Jobs Back to Fort Monmouth
In a recent email to constituents, Oceaport Councilman Joe Irace suggests that FMERA needs to discuss realistic ideas to develop a high tech campus which would bring jobs back to the local economy, not just build more housing and strip malls at the closed Fort Monmouth property. Citing a New York City high tech campus project as an example, Councilman Irace says “We have the land buildings and the beginnings of a campus” and calls for NJ to be a leader and an innovator.
Oceanport, as one of the local towns with land occupied by Ft. Monmouth, has a seat on the committee but the state and federal government appear to still be dictating the building and development decisions that will impact local taxpayers and voters. Oceanport Mayor Michael Mahon is on the FMERA board along with other local mayors, Gerald Tarantolo of Eatontown and Michael Skudera of Tinton Falls. Also on the board to represent local interests is Monmouth County Freeholder Lillian G. Burry. The Fort was closed in September of this year after Frank Pallone and Rush Holt failed to win support for the Fort following a 2005 BRAC decision to close it.
Without Art to corral you donkeys, I thought I’d send the friendly admin my latest Random Thoughts, and try to incite a riot, as I’ve been discussing this very topic with neighbors in my town.
It’s no secret at this point, Jen Beck and Mary Pat Angelini have both come out in favor of gay marriage, a position that is off of the usual Republican line. Earlier this year, Jen Beck voted against a Christie line item veto for “women’s health funding”, which is also off of the line. Likewise, Mary Pat Angelini sponsored and pushed, what I would consider to be nanny state, anti bullying legislation and then pushed the student survey bill that would have asked students for personal information about their households like salary, religious beliefs, political affiliations among other items, again seemingly an off of the line bill. For me personally, both have been on the wrong side of Second Amendment legislation over and over again, supporting One Gun a Month legislation and doing nothing to get NJ’s laws in line with the nation’s firearms laws in light of recent Supreme Court decisions. I’m sure I’m missing a few places where they weren’t toeing the line, but these example should suffice.
But while Jen Beck and Mary Pat Angelini seem to stray from the party line on these few, relatively minor in the grand scheme of things, issues, they also can be accused of just toeing the line on many others. Both can be counted on to toe the line when it comes to pension and benefit reforms, both can be counted on to toe the line when it comes to the 2% property tax cap and other tax reforms. Both seem to toe the line on school choice, teacher tenure reforms and other school funding issues. In fact, one can certainly make the case that both Beck and Angelini always just toe the party line… usually.
So what do you want your elected representatives to do? Do you want them to just be consistent and toe the line, every time? Or do you want them to be free thinkers who sometimes stray from the party line, but try to represent local interests? Is there another option that allows free thinking and local representation without having the appearance of just toeing the line, or crossing the line at the wrong times? If no one on either side was willing to budge from their party line, would anything get done? Does anything, good, get done now with the current system? Where do you draw the line on toeing the line? As a county committeeman, would you accuse me of toeing the line for supporting candidates who don’t always toe the line, or am I getting out of line to support candidates who are sometimes out of line? Again, is there another option?
Feel free to discuss. In the meantime, don’t mind me – I’ll be out “toeing the party line”, or not, and asking everyone in district 11 to vote Beck, Angelini and Casagrande on November 8th because they have done a great job toeing the line or have proving their ability and will to get off the line and have a voice of their own. Either way you look at it, I’m happy with the general direction that the Great State of New Jersey is moving, and.I’m convinced that, in general, Beck, Angelini and Casagrande will continue toeing the line, or not, to keep our state moving in the right direction.
If Old Bridge residents continue to vote for party over policy they will get what they have always gotten. After 16 years of Democratic control Old Bridge residents have higher taxes, deficit spending, dictate, deceit and the State telling us to get our budgetary practices in order or they will have to step in.
The Democratic committee of Old Bridge calls themselves progressive and forward thinkers. All I have seen and experienced are my taxes progressing higher with a reduction of services. Desperate for votes the Democrats are promising tax relief during an election season, very convenient and finally transparent. I won’t give them my vote on an empty promise.
While the economy has been tanking for the past four years the Democrats have been fiscally irresponsible. Old Bridge residents are facing an $8 million deficit for 2012 and the Democrats blame lack of state funding. I blame them for their lack of commitment to be effective leaders and good stewards of our hard earned tax dollars. Where have they been under a progressive rock.
They have dictated by a 5-4 vote, along party lines, the early retirement health care ordinance for municipal workers. This reduces their years of service to Old Bridge from 25 to 15, allowing 10 years from other municipalities and Old Bridge residents left to pick up the cost of their health care until they pass. On a petition over three thousand resident signatures against the ordinance wanted a referendum on the ballot for the taxpayers to decide. This did not happen due to the deceitful shenanigans of a partisan democratically run town and county.
The State of New Jersey has warned the township several times in writing not to plan their budgets around non recurring revenues. They were told if they continued the state would have no choice but to step in. The OB Municipal Utilities Authority, water and sewer, has been an expedient slush fund for borrowing $1.3 million in 2009 and 2011 and selling OB land to them for $5.3 million while our water and sewer bill has skyrocketed. If the rumor is correct the Democratic council wants to sell the MUA, why would they sell our water rights away? Is this the way we want to run our township?
If anyone has ever watched the council meetings on public access they would see and hear how unprofessional the democrats attitudes are towards residents comments, verbally dismissing them, not returning resident phone calls and passing ordinances, without public comment, that effect their safety and pocketbook .
Due to the lack of a record to run on the Democrats have taken their money machine and have resorted to slandering Republican candidates while all these individuals did was contribute to their communities and be on boards in the town. Democratic Mayor Patrick Gillespi was disingenuous in the Suburban when he did not give credit to the planning board for their work on the master plan for OB. The credit belongs to Republican mayoral candidate Owen Henry and the other planning board members.
The Democrats will have to run on their 16 year record which is not good enough for me or the residents of Old Bridge. They can try to blame the Republicans but the residents are not stupid, the Democrats created the mess, allowed it to progress and haven’t fixed it to this point.
Remember, if you always do what you have always done you will always get what you have always gotten.
Vote Republican Column A on Nov 8th and together we can get Old Bridge back on track.
Art Appeared in Court today in front of Judge Thomas F. Scully. He did not waive his right to an extradition hearing. A hearing date was set for November 16. Additionally his Lawyer Michael P. Laffey of the Holmdel based Messina Law Firm filed a motion to have Arts bail reduced to $50,000.00 with a 10% option. It is currently set at $250,000.00 with no 10% option. That motion is being reviewed by the Judge. Mr. Laffey also informed the Judge that Art has an attorney in Delaware who is working on arranging for Art to submit to Delewares Jurisdiction. The Judge indicated that if that is arranged he will immediatly schedule a court appearance to waive the extradition hearing so that things can then proceed in Delaware.
The first row of seats in the Court Room were filed with Art Gallagher supporters.
After the hearing Mr. Laffey issued a statement that ‘Art Gallagher legally repossesed the buses in question. Watson Bus Company was in default under its lease agreement. There was no theft.”