Sunday, June 03, 2012

It's the corruption, stupid

Belmont club has an article about Chicago corruption. ZZZZZ. so what else is new?

But this caught my eye:
You can see why Beale might be suspicious of Chicago’s Metra Board. After all this august body actually takes out corruption insurance on its own leadership.  “How far does corruption go in Illinois? So far that Chicago’s commuter rail agency actually took out insurance against it.”
Okay. PJMedia is libertarian, so let's see if he is getting the facts right.


From NBC in Chicago:
How far does corruption go in Illinois? So far that Chicago’s commuter rail agency actually took out insurance against it. And that insurance paid off.
 When Metra chief Phil Pagano stepped in front of a speeding commuter train last May, he took a number of secrets with him.
Perhaps the largest was what he did with the nearly half-million dollars he was accused of misappropriating from the agency...
The City of Chicago requires surety bonds on several of its public officials. Those are not actual insurance policies, but are designed to hold those officials to "the faithful performance of their duties." 
The bonds range from $2 million for the City Treasurer, to a quarter million dollars for the director of revenue.  The mayor is covered for just $10,000.
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perhaps we need similar insurance here:

Trial cost, P3.5M; removing a chief justice, priceless
of course, that only removed him from the court, so he can't let off all the others who stole. It didn't put him in jail or get the ill gotten money back.

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