Wow, talk about adding insult to injury. Taxpayers are bilked out of tens of millions while the Richardson Administration was at the helm of the State Investment Council. Now, they are making matters worse by requesting CYA budget increase funds:
The State Investment Council has asked for nearly $6 million in additional money to cover legal expenses associated with the ongoing investment scandal, and a leader in the state Senate is none too happy about it.
“It just doesn’t make any sense to me,” President Pro Tem Tim Jennings, a Roswell Democrat, said Friday. “I’m concerned that everyone is concerned with protecting themselves instead of protecting the public.”
The State Investment Council wants a $1.7 million budget adjustment and a $4 million supplemental appropriation to cover the legal expenses. Much of the money would go to a San Francisco law firm that is charging up to $950 an hour and can earn up to $5.8 million under a contract that started at $30,000.
Just to make sure that everyone is on the same page. We have legislative committees recommending tax increases and 2 percent pay cuts for government workers and teachers while $950 an hour is being spent on San Francisco lawyers.
Yeah, that makes sense.