Chris Coons uses Pension to give cronies lifetime payoffs with tax dollars

Chris Coons, Pension, Politics, Election 2010, Freedom News, Obama News, Delaware Senate Race, Delaware Election

How Chris Coons used New Castle Delaware Tax Dollars to funnel millions in lifetime payments to his crony friends, using a Pension loophole he opened, then closed, but exempted his crony friends from.

Recently, the Freedomist exposed Chris Coons’ lie in the Delaware Senate Debate that his family would not make millions of dollars in Cap and Trade.  But did you know there is a scandal that may be even more revealing of the Crony Capitalism Chris Coons represents?  This scandal shows how Chris Coons uses his public office to literally enrich his crony buddies.  It involves Pensions and loopholes:

Delaware Politics- Chris Coons Pension Scam unfolds- how he bilked taxpayers for political cronies

http://meetchriscoons.wordpress.com/2010/09/28/coons-abused-county-pension-system-for-political-payoffs/

According to Ron Williams in The News Journal, when Chris Coons served as the President of the County Council, he diverted untold millions of taxpayer dollars as payoffs to his political buddies and top staff.  Coons did this by exploiting a loophole in the county’s pension program.

The loophole was originally meant to attract new county police officers, but Coons decided to use it as a cash cow to pay off his political hacks:

It started as a legitimate way to recruit experienced cops onto the then-fledgling New Castle County Police Department. Municipal police officers with a few years service in say, Newport, could join the county force and get those Newport years credited toward a county pension. Then credited years were expanded into government service, still not a bad idea for high level, politically appointed executives who seldom accumulated enough time for a pension before the next administration came in. But then something went very wrong. The New Castle County pension plan became a cash cow for every political hack and hangers-on in various administrations. Come work for the county for a few years, purchase pension credits at your old lower salary at 5 percent on the dollar and retire at a nice fat pension on your new six-figure salary. (Ron Williams, Op-Ed, “NCCo Pension Plan Was The One To Die For,” The News Journal, February 14, 2007)

Coons likes to brag about how he closed the loophole, but, not surprisingly, he leaves out the embarrassing part where he grandfathered in his buddies, wasting untold millions of taxpayers hard-earned cash:

http://pqasb.pqarchiver.com/delawareonline/access/1744160451.html?FMT=ABS&FMTS=ABS:FT&date=Feb+14%2C+2007&author=RON+WILLIAMS&pub=The+News+Journal&edition=&startpage=A.10&desc=NCCo+pension+plan+was+the+one+to+die+for

The Freedomist asks Ron Williams where he is on reporting this story today.  If you want to share your concern with Ron Williams not following up on this story, contact Delaware News Journal at:
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