The nationwide probe into the "pay-to-play" scandal involving Wall Street firms that paid politically-connected fixers to get them business from pension funds controlled by state officials has ensnared another investment firm.
Calling the state government in New York "corrupt," the NY Attorney General Andrew Cuomo announced Thursday that Riverstone Holdings LLC will pay $30 million in restitution and has signed on to a new code of conduct that eliminates middlemen and lobbyists from the process of procuring hundreds of millions in investments from the state's pension fund.
The announcement was made against the backdrop of an almost farcical drama for power in the state's capital which one local newspaper, the New York Post, called a "Circus Maximus" where "bozos" battled for senate power. Cuomo acknowledged his office is watching the battle for control which is now entering the courts.
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