Academic

TPM MUCKRAKER: Pension Players Go Back To The Lincoln Bedroom Days. Correra and Schiaffino have ?

By Glenn Reynolds

TPM MUCKRAKER: Pension Players Go Back To The Lincoln Bedroom Days.

Correra and Schiaffino have something in common: they have both worked as agents for a placement agency called Diamond Edge Capital, which is run by Marvin Rosen, a former finance director for the Democratic National Committee and Clinton campaign co-finance chair in Florida in 1992. . . . It’s unlikely that the most prominent boldfaced names thus far dragged into the scheme — like money manager turned car czar Steve Rattner, had any clue about the more brazen practices of the scheme’s masterminds. But the investigation stands to shed considerable light on those players perceives as “normal” in the unregulated world of middlemen who control access to the pursestrings of public finance.

Some folks’ “normal,” after all, might raise the eyebrows of the average citizen. If Rosen sounds familiar, it’s because he was one of the key figures involved in promoting sleepovers in the Lincoln bedroom for top campaign contributors in the nineties. In 2005 Rosen joined Diamond Edge, where he now holds the title of chairman, and helped secure a handful of investments for hedge fund clients from the New Mexico and New York state pension funds. Records show the firm booked at least $3.25 million on four New York pension fund investments in 2005 and 2006 and an unclear amount on another four in New Mexico.

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Full post as published by Instapundit.com on May 07, 2009 (boomark / email).