"Cahill committee didn’t pay state tax; Campaign amends years of returns" by Frank Phillips, Globe Staff | September 1, 2010
State Treasurer Timothy P. Cahill acknowledged last night that his campaign committee failed to pay an estimated $15,000 in state income taxes over the past decade, as required by law.
Cahill’s campaign made the admission in an unusual written statement following a Globe inquiry yesterday afternoon about why there was no record of checks to the state to cover taxes on interest the campaign committee’s account has earned from investments it made in certificates of deposit.
Cahill, who was evidently caught off-guard by the lapse, vowed to pay the taxes immediately. But the delinquency is a source of embarrassment for the two-term treasurer, who has sought to promote an image as a prudent watchdog of public dollars and guardian of the public Treasury.
See: Cahill the Corrupt
Corrupt Treasurer Cahill Costing Mass. Taxpayers
That's the best we got looking after the public till, huh?
A former Democrat who left the party last year to run for governor as an independent, Cahill has built his gubernatorial campaign around his embrace of fiscally conservative positions, attacking Governor Deval Patrick for raising taxes and accusing him of mismanaging state government and freely spending taxpayers’ money....
We call it FRAUD around here.
Over the years, Cahill has raised millions of dollars to further his political career. At times he has raised money from people with an interest in business before the Treasury....
Cahill is not the first political figure to be tripped up by the law requiring political committees to pay federal and state income taxes on interest. Two decades ago, the issue flared up when a slew of Beacon Hill leaders, who had invested some of their sizable war chests in savings accounts, violated the law by not filing income tax returns for their committees....
Not much changes up on the hill. Must be the place.
And wait until you see WHO he HELPED, dear Massachusetts citizens:
"Ex-aide to Cahill brokers bond deal; Political backer works for firm that won contract" by Frank Phillips, Globe Staff | June 24, 2010
A state water pollution control board that state Treasurer Timothy P. Cahill chairs has chosen
Isn't it great when the STENCH of CORRUPTION comes from the TREASURER'S OFFICE?!
The three-member board of the Massachusetts Water Pollution Abatement Trust made the decision with the consent of the two Patrick administration officials who also serve as trustees. The recommendation to give the work to Goldman came from the trust’s executive director, G. David Riedell, a Cahill appointee.
Yup, they are ALL IN IT TOGETHER, taxpayers!
A key player in the negotiations was Neil M.M. Morrison, a Goldman Sachs vice president for municipal financing in New England. Morrison worked closely with Riedell as he developed his recommendation, introducing him to other Goldman specialists in the field of revolving fund bonds and other specialists. Morrison is currently working with the trust’s bond lawyers to hammer out the final details....
I smell ANOTHER GOLDMAN SACHS RIP-OFF!
Cahill aides insisted yesterday that there was no favoritism in the selection process and that Cahill did not play any role in the recommendations that went to the full board....
Although Morrison and the trust are still negotiating fees with Goldman, the underwriting contract is expected to garner more than $2 million for the firm. The fees will range from $4 to $7 for each thousand-dollar bond that is sold. Moody’s Investment Service assigned its highest rating, AAA, to the bonds.
The trust provides capital financing to cities, towns, and other entities for water projects. It uses such bond offerings to raise money to finance the work.
The decision to contract with Goldman Sachs comes just two months after the Securities and Exchange Commission charged Goldman, one of the most influential and prestigious investment firms in the country, with fraud. The regulators charge that Goldman’s investment banking division created and marketed a mortgage investment that was secretly intended to fail....
Related: Goldman Sachs' Rigged Gambling Game
Also see: Municipal Bond Milking
See why your taxes are going up?
Yup, they are looking out for you.
Riedell said that a major reason for his recommending Goldman was that the firm is a major trader of the federal government’s Build America Bonds, which have a relatively high yield and will be a central part of the bond package that will go to market next week....
Goldman is also playing a far smaller role as a co-underwriter for a $250 million general obligation bond that Cahill’s office will sell on Wall Street in the next few weeks. It is not clear what share of the fee Goldman Sachs will get.
Who is the STATE TREASURER looking out for again, voters?
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Related: The Collapse of the Cahill CampaignYeah, that is why I don't cover him much.
He will be lucky to break 5%.
"Cahill returns fire in new ads; TV, radio spots aimed at halting decline in polls" by Noah Bierman, Globe Staff | July 2, 2010
State Treasurer Timothy P. Cahill launched his first sustained television advertising campaign of the gubernatorial race yesterday, trying to reverse his precipitous slide in the polls and a drop-off in fund-raising.
Pfffffft!
NOBODY BETS on a LOSER!
The timing, on the eve of a holiday weekend when voters traditionally tune out of politics, is a calculated gamble reflecting his difficult situation....
Cahill’s ads attempt to portray him as an outsider and a populist.
Pffffft!!
As he writes bonds for Goldman Sachs!
He left the Democratic Party last year and is running as an independent, though he is serving his second term as treasurer and was previously the Norfolk County treasurer and a Quincy city councilor....
Polls suggested that Cahill’s support is dropping, from second place earlier this year, to 14 percent in recent months, and then down to 9 percent in a Globe poll published Sunday....
Fund-raising has also been a problem. Recent filings show he raised just $63,707 in the month of June and spent $576,332.
“He really is desperate to get himself back in the game, make himself look viable,’’ said Tobe Berkovitz, a campaign consultant who teaches communications at Boston University....
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