Is there a better example of the need for independent news sources such as monroerising.com than today’s article about Democrats complaining that Legislature Republicans sent campaign mailings out on the 2010 County budget?

Jill Tererri faithfuilly reports Assemblyman Joe Morelle’s comments about the mailing:

“This is the equivalent of insider trading for political purposes,” said county Democratic Chairman Joseph Morelle.

Insider trading for political purposes?  Our good friend Philbrick over at mustardstreet.blogspot.com wrote this post earlier this year about Joe Morelle , who happens to chair the Assembly’s Insurance Committee, accepting contributions from AIG:

Filings with the New York State Board of Elections show that insurance giant AIG contributed $1,500.00 to Assemblyman Joe Morelle on April 18, 2008.   Morelle is Chair of the Assembly’s Committee on Insurance.

You’ll find it on page 5 of the report; 18th item down.

As of his most recent filing, Morelle had not returned the contribution.

When it comes to buying influence, AIG spends wisely.   This week it was publicized widely that AIG donated $100,000 to the state Democratic Committee just before the state launched marathon sessions to prop up the embattled insurer.

 

The contribution was made Aug. 29. Insurance Superintendent Eric Dinallo started negotiating with AIG and federal officials within about two weeks.

On Sept. 16, Mr. Paterson announced the “great news” that New York officials helped the giant insurer strike a historic loan deal with the Federal Reserve.

The Associated Press story went on to note:   “It was the biggest campaign donation AIG has made within New York state since electronic record keeping began in 1999, records show.”

Morelle’s also raised hundreds of thousands of dollars from insurance interests while he has been in charge of the committee overseeing their regulations. 

If getting public information a couple of days early is “the equivalent of insider trading for political purposes,” what would Morelle call what he is doing?

Unfortunately, Jill Tererri didn’t think that was a relevant question.