Chris Christie Officials Sent Pension Money To Subsidiary of Donor’s Foreign Firm

Chris Christie appointees committed $300 million to a subsidiary of a foreign firm whose executive donated to his campaign and the RNC.

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State documents from December 2014 show that one of New Jersey’s investments in Prudential plc has barely broken even, while another is worth less than the original investment, renewing debate about the wisdom of transferring public retirement savings from lower-risk securities to aggressive bets on hedge fund, private equity and real estate vehicles. The donations from Prudential plc’s top executive also underscore questions about the ability of 2016 presidential candidates to navigate pay-to-play rules while raising campaign cash. A top Christie adviser recently said that such rules offer “no loopholes” for candidates to exploit.

Not surprised. And they didn’t have to exploit loopholes.