Shine a light
Wednesday, Jan 7, 2015 - Posted by Rich Miller
* USA Today…
The election may be over, but the fundraising hasn’t stopped for some of the nation’s governors, whose allies are busy collecting more money from donors to help underwrite their inaugural bashes.
In some cases, the donations exceed what their supporters could contribute to their campaigns.
In Illinois, sponsors who give $25,000 to the committee raising funds for Republican Gov.-elect Bruce Rauner’s inaugural events get four VIP tickets to his Jan. 12 swearing-in, along with entry to two dinners, a reception and concert featuring country star Toby Keith and blues legend Buddy Guy, according to the committee’s website.
State law limits candidates accepting more than $10,500 from a corporation or union or $5,300 from an individual.
* Finke…
Rauner, who is not using taxpayer money to pay for his inaugural activities over the coming week in Springfield, will release information about who is paying for it when the time is right, spokesman Mike Schrimpf said Tuesday.
“We already committed to releasing the donors and will release the relevant information at the appropriate time,” he said in an emailed response to questions.
Schrimpf did not answer questions about the total estimated cost of the inaugural events. […]
Although Rauner has promised to disclose contributors, that isn’t enough for some critics of privately funding inaugural events. David Melton, executive director of the Illinois Campaign for Political Reform, said it still leads to the perception that someone or something is buying access.
“I’m not questioning the good faith of anyone involved about this idea of privately funding inaugurations, whether it’s for the governor, the president or anyone else,” Melton said. “But I think it’s a mistake because it undermines the position that they hold and leads to misperceptions about where their chief loyalties lie.”
* Meanwhile, Mark Brown looks at Rauner’s pledge to shift his assets into a blind trust…
Rauner’s most obvious and serious potential conflicts involve his holdings in GTCR, the private-equity company he ran before entering the governor’s race, and the firm’s work investing state pension funds. I honestly don’t know what he can do to alleviate that conflict.
Many of Rauner’s investments are complex and probably can’t be undone by any trustee, which means he will keep them for many years.
That’s why Robert Walker, a former chief counsel to both the U.S. Senate and House ethics committees and now a lawyer at Wiley Rein LLP, says blind trusts are of limited value in the short term.
After all, Rauner will know exactly what he put in the trust, and what actions might benefit those investments.
“It’s a good gesture initially if there are strict provisions applied and followed. It’s not a panacea for potential conflicts of interest,” Walker said.
- Oswego Willy - Wednesday, Jan 7, 15 @ 11:16 am:
“We already committed to releasing the donors and will release the relevant information at the appropriate time,” he (Mike Schrimpf) said in an emailed response to questions.
I’m cool with that, so when is the appropriate time?
February? After Session in June?
If nothing is released before Session begins, are we going to have to … “trust” … no one is getting special treatment.
- Wordslinger - Wednesday, Jan 7, 15 @ 11:17 am:
If Rauner is still heavy into GTCR funds, and GTCR is still chasing state pension fund business, doesn’t Rauner have to cash out, to be all goo-goo and everything?
- Say It Ain't So!! - Wednesday, Jan 7, 15 @ 11:28 am:
To totally eliminate any potential conflicts of interest, shouldn’t the State fully divest itself of all investments with GTCR funds? I am sure there are plenty of other qualified private-equity investor companies that could invest State funds, without any conflicts of interest.
- Norseman - Wednesday, Jan 7, 15 @ 11:31 am:
Normally I’d be pessimistic that a blind trust would really guard against a conflict since most people still know where there money goes. However, the campaign proved that Rauner can’t remember anything about his finances.
- Ghost - Wednesday, Jan 7, 15 @ 11:35 am:
The rauner investments is definetly something to watch. But after the Feds put away 2 governors younwould think/hope rauner would run from these conflicts and make sure they are eliminated.
- VanillaMan - Wednesday, Jan 7, 15 @ 11:36 am:
If Rauner is expected to somehow divorce himself from his wallet, why was Quinn allowed to appoint anyone in government? Rauner makes his bones via GTCR and Quinn made his bones in patronage, right?
Expecting Rauner to somehow satisfy his neverending critics on this issue is as unrealistic to have expected Quinn to do so similarly. You see Rauner’s critics are perfectly comfortable watching Mr. Patronage enlarge government beyond any sustainable level, but cringe and wet their pants when Rauner goes with what has worked for him throughout his adult life.
Our governors go with what has worked for them enough to get them into office. Ryan was a deal maker, Blagojevich was a crook, Quinn was a patronage queen and Rauner is a financial player. Each man used his acquired skills in office, for better or for worse. Sadly, in our case since 1998 - for worse.
Rauner’s critics don’t trust him. Good. No governor should have unquestionable trust. But keep their criticism in perspective. Demands that Rauner cash out is about as silly as demands that Blagojevich first lock up Tony Rezko.
Get real.
- Empty Suit - Wednesday, Jan 7, 15 @ 11:37 am:
“Buying access” sounds kind of funny someone buying access from a billionaire.
- Norseman - Wednesday, Jan 7, 15 @ 11:42 am:
=== “Buying access” sounds kind of funny someone buying access from a billionaire. ===
I agree! The fat cats now get their access for free.
- MrJM (@MisterJayEm) - Wednesday, Jan 7, 15 @ 11:43 am:
“‘Buying access’ sounds kind of funny someone buying access from a billionaire.”
Because he became a billionaire by not caring about money?
– MrJM
- Wordslinger - Wednesday, Jan 7, 15 @ 11:52 am:
Vman, your comment makes absolutely no sense. I don’t have a clue as to what you’re trying to say.
You don’t see a conflict with a governor having large financial interests in funds seeking state pension fund investments?
Curious that you think state government has been enlarged to an unsustainable level through employee head count. Are you volunteering for something?
- Louis G Atsaves - Wednesday, Jan 7, 15 @ 11:55 am:
Wow! Some pretty intense criticism and it isn’t even January 12th yet.
Number of media pieces all proclaiming that Rauner will be a massive failure as governor in dealing with pensions, budgets, Madigan, Cullerton, the Mansion, his appointments, his transition, etc. Won’t be able to keep a single promise! All these experts expertly giving their expert opinions and the man hasn’t even taken office yet.
Welcome to Illinois Politics Mr. Rauner!
There are no laws forcing Rauner to create a blind trust, but he is damned for doing it, and damned for not doing it. The experts have expertly rendered their expert opinions on this topic. He did promise to do it, so let’s add that to the immediate failure list, shall we?
Welcome to Illinois politics Mr. Rauner!
A promise to release the names of all donors and the total cost of the non-taxpayer funded inauguration activities leaves Mr. Rauner damned if he discloses, and damned if he doesn’t. And this after he need not promise full disclosure? The experts have expertly opined that . . .
Welcome to Illinois Politics Mr. Rauner!
Sheesh!
- Oswego Willy - Wednesday, Jan 7, 15 @ 12:01 pm:
===A promise to release the names of all donors and the total cost of the non-taxpayer funded inauguration activities leaves Mr. Rauner damned if he discloses, and damned if he doesn’t. And this after he need not promise full disclosure? The experts have expertly opined that . . .===
Welp, - Louis G. Atsaves -, you complain and run talking about “insiders” buying “career politicians” for months on end…
…a lil sunshine of who paid monies for Rauner’s Inaugural and see what access they MAY get, yeah, Rauner brought this, and all your “Rauner is a victim!” on himself…
Own it.
- Wordslinger - Wednesday, Jan 7, 15 @ 12:04 pm:
Louis, can you provide the links to the “number of media pieces all proclaiming that Rauner will be a massive failure as governor…”?
You probably don’t have to keep trying so hard, Louis. You should be on good paper with your boss for your efforts to bump the Libs off the ballot.
- Rich Miller - Wednesday, Jan 7, 15 @ 12:09 pm:
===Louis, can you provide the links===
Yes, please do, Louis.
- Cable Line Beer Gardener - Wednesday, Jan 7, 15 @ 12:11 pm:
Wouldn’t it be refreshing if the Gov. elect and staff would answer a question when asked. This consistent stalling tactic is wearing thin.
- vole - Wednesday, Jan 7, 15 @ 12:29 pm:
Simple test: if its good for the oligarchs its good for the people, right? This seems to be the operating principle of the oligarchy which requires no explanations from them. So, don’t complain peasants. Its all good.
- VanillaMan - Wednesday, Jan 7, 15 @ 12:37 pm:
You don’t see a conflict with a governor having large financial interests in funds seeking state pension fund investments?
Not anymore than the kinds of conflicts I saw with the previous governors. Pick your conflict, but remember you are assuming his interests.
- Oswego Willy - Wednesday, Jan 7, 15 @ 12:55 pm:
Maybe - Louis G. Atsaves - is waiting for word from the Mothership(?)
- Not it - Wednesday, Jan 7, 15 @ 1:03 pm:
We don’t require campaigns to release donor information in real time so it is a little unreasonable to expect transition teams to do so. If it isn’t released in a month or two then I would worry.
And if anyone thinks Rauner wants to be Governor so he can enrich himself they are crazy. How much of his own money did he spend on his campaign?
- Grandson of Man - Wednesday, Jan 7, 15 @ 1:05 pm:
Someone should try explaining how it was and is okay for a billionaire and his firm to make huge amounts of money off of public employee pensions and then turn around and attack pensions and the people who negotiate for them. Not too long ago Rauner called public pensions tumors.
- Oswego Willy - Wednesday, Jan 7, 15 @ 1:05 pm:
===And if anyone thinks Rauner wants to be Governor so he can enrich himself they are crazy.===
Geez.
It’s not Rauner, it’s enriching the donors gaining access.
Just like when Rauner donated to Democrats and Republicans. Why? Access to enrich themselves.
- CircularFiringSquad - Wednesday, Jan 7, 15 @ 1:13 pm:
actually it would be better to know where Mitt is placing his investments rather than the blind trust gambit….of course we knew little before and he still insisted he was not responsible
What about the caps?
- Not it - Wednesday, Jan 7, 15 @ 1:21 pm:
(Oswego: my comment about Rauner enriching himself was about the blind trust aspect of this post, I should have been more clear.)
- Davis - Wednesday, Jan 7, 15 @ 1:22 pm:
Young staffer: Has Rauner considered liquidation?
Old staffer: Har, Har Har, Har! That’s a good one! You’re fired.
- Oswego Willy - Wednesday, Jan 7, 15 @ 1:28 pm:
- Not It -, all good, both possibilities can be a “concern”.
I am of the belief that “donors” gaining access to Rauner to enrich themselves is more at risk than Rauner enriching himself. That’s just me, but with Griffin and Uihelin donating, not thousands, not hundreds of thousands, but millions, boy, I want friends like those, not wanting anything from me…
We’ll see…
- Arthur Andersen - Wednesday, Jan 7, 15 @ 1:45 pm:
The S-T shoulda done a little homework before going off on the GTCR/State Pension aspect of BR’s blind trust.
All of the past TRS and ISBI investments in GTCR are wrapped up, done, finito with the exception of a 2006 investment by ISBI. To the extent that fund is entering its ninth year, it’s essentially in wind-down stage.
Simply said, not much to see on this front.
- A guy - Wednesday, Jan 7, 15 @ 1:55 pm:
Call it a hunch…but methinks these things will be watched by more than a couple of folks. There’s not much “private” in his life anymore. Calm down.
- Oswego Willy - Wednesday, Jan 7, 15 @ 2:02 pm:
===Methinks===
Are you Sneed?
Sneedless to say, the scrutiny you describe will indeed be there.
Lunch Bunch
The Powerful Alderman Ed Burke, Finance Committee Chairman and husband to the ageless and priceless Justice Anne Burke had lunch with Jay Doherty after being over the moon about something..,stay tuned!
- Louis G Atsaves - Wednesday, Jan 7, 15 @ 2:32 pm:
“Maybe - Louis G. Atsaves - is waiting for word from the Mothership(?)”
Sorry OW, real work has intruded. Expect some links shortly. Try not to hyperventilate.
- Oswego Willy - Wednesday, Jan 7, 15 @ 2:34 pm:
- Louis G. Atsaves -,
All good, bud. I was just having some fun…
- Ghost - Wednesday, Jan 7, 15 @ 2:50 pm:
So far, Rauner has made good decisions and acted well. But he has a rocky road ahead. I would be stunned if his investments are allowed to come into actual conflict with state activities given the forewarning of prior governors in jail. He didnt become a billionaire making rash or poorly thought out decisions.
- walker - Wednesday, Jan 7, 15 @ 3:26 pm:
No big deal.
Bigger fish to fry with the Governor-elect in the coming weeks. Major celebration will be called for the first time he comes up with numbers that add up.
Let him have his party, his way, and own it.
- Oswego Willy - Wednesday, Jan 7, 15 @ 4:32 pm:
I am now guessing - Louis G. Atsaves - is now decoding the message from the Mothership..,
- Juvenal - Wednesday, Jan 7, 15 @ 10:25 pm:
Instead of a blind trust, I favor “full disclosure”, which is what Republicans say is the solution to campaign finance anyhow.
Amend the House Rules to require the filing of a Rauner Impact Note upon request of a lawmaker, estimating the net impact on the wealth of Rauner and separately, anyone who donated more than $25,000 to his campaign.