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Top New York officials have been charged with extracting millions of dollars in kickbacks from investment management firms seeking to manage the assets of New York’s largest pension fund.
The SEC’s complaint alleges that Henry “Hank” Morris, the top political advisor and chief fundraiser for former New York State Comptroller Alan Hevesi, and David Loglisci, former Deputy Comptroller and Chief Investment Officer of the New York State Common Retirement Fund, orchestrated a fraudulent scheme from 2003 through late 2006 that corrupted the integrity of the New York State Common Retirement Fund in order to enrich Morris as well as others with …read more

According to the Financial Times, the UK now vies with the US for most developed financial market, with New York narrowly retaining its lead over London as a financial market.
It’s the UK’s second bite at the apple, having been the most important financial center through much of the 1800s.