Sunday, February 05, 2012

Walkergate unfolds, $100,000,000 at a time.

Curiouser and curiouser....

Scott Walker’s $100,000,000 Question – Walkergate | Wisconsin Politics

In 2002 Milwaukee County picked Bear Stearns to underwrite a $100 million bond refinancing deal even though their bid was $90,000 higher than another bidder and also violated the bidding guidelines. Bear Stearns’ executive, Nicholas Hurtgen, who has since pled guilty in a political corruption probe in Illinois, raised $25,000 in campaign contributions for Walker at two Illinois fundraisers shortly after they won the contract. Walker personally approved the selection of Bear Stearns. The sale of the bonds took place in 2003. Incidentally Karl Rove was to appear at this fundraiser but backed out at the last minute.
On July 15, 2004 the Milwaukee Journal Sentinel’s front page story claimed that county officials were unable to document how Bear Stearns landed the major contract to underwrite the $100 million dollar deal. At the time an official in the Walker administration said that all records related to the approval of the deal had been destroyed or that they were unable to locate them. 

Stay tuned....

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