Vicky, Empire State Plaza, Chief Investment Officer discussed on Max & Murphy on Politics
It's it's obviously been in the news a bit Jim, any sense that she had direct involvement in choosing to buy debt of the company that she then joined the lower. The debt purchase was in twenty fifteen. It was three years before, so I don't know if people are making the allegation that the fixed income group that made the recommendation to do that. It didn't come from from Vicky that that the fact that that happened was somehow tied to Vicky getting aboard appointment three years later. If that's what people are alleging, that might be some facts that they need to report to the proper authorities, but to just create a conspiracy theory putting all that together, like most of the investments in that company, we're through the index funds passing. They were there before Vicky came there. There they are now that she's left. So this notion that she was directing investment to this company. You know, I think it's an overstatement of the reality as chief investment officer. She obviously present for presides over the entire fund, but that doesn't mean that she was directing these investments so that she would get a board position years late. Okay. So we're through the cross examination row. We've got a few more questions and a lightning round of questions of before we go to closing statements, but a couple of more questions on the role of the controller and state finance. And we're gonna start with you here. Mr. Donelly the state has tens of billions of dollars of outstanding debt. Hundreds of billions of you include a thority debt that that has been accrued and they're also post employment benefit debts, OPEC debt, that that increases that amount that are not necessarily covered or prepared for. What would you do about the positioning of debt around the state if you're elected controlling? Well, as I said earlier, I'm I've been very opposed to the level of debt that the state is occurred. There's a state constitutional requirement that debt incurred by the state's supposed to be approved by the taxpayers. And you know, on the Robin Moses, we came up with this legal fiction of the thirties, disarmament bad. As I mentioned when arrests is coin, and who is the mayor? Two city of Albany basically built the Empire State plaza and leased it to Rockefeller to circumvent that dead Knipe which helped start and was on the board, sued them on that how you now curb that. Level of debt and cut it back is a big challenge is who need to stop incurring debt. We had to rein in the authorities. It's been a lot of legislation that's been introduced to make the authorities more transparent. They need to really begin to follow the rules that other state agencies occur. This Skyla management company a nonprofit that has been used to sort of circumvent. You've been the limited restrictions on the authorities, but I think we have to really cut back on debt how best you do that. That's why I got twenty seven hundred employees. It'd be working in that once on elected came together that I have no silver bullet, no easy answers on how to tackle this issue. What I can guarantee you is that if you continue to vote for either a democrat or Republican, nothing will change nothing. It's against why suggest you look at the libertarian ticket as a way to create a third party. That'll challenge the duopoly that we have in the in the state in the country. Mr.. Chapter on this issue of debt, what would you do to either rain it in make systemic adjustments? Yeah, I do have a silver bullet or a magic solution to all.