News Center

October 26th, 2010

Fitzgerald Embraces Pay to Play

State Treasurer Mike Fitzgerald demonstrates a stunning willingness to abuse the public trust and his public office for political gain.  An examination of Fitzgerald’s campaign reports reveals he relies heavily on contributions from out-of-state individuals and organizations that do business with his office.  That’s called pay-for-play and that is NOT Iowa. (Table attached)

More than half of his political funds come from outside Iowa; more than $25,000 from those who do business with the Treasurer’s Office.

The Bank of New York is the custodial bank for the Iowa Public Employees Retirement System (IPERS) and the Bank of New York has contributed $11,000 to Fitzgerald’s campaign.  The pay-for-play list includes law firms and unclaimed property services that have done or do business with the State Treasurer.

It is alarming that the State Treasurer of Iowa – the person entrusted with BILLIONS of Iowans’ dollars – raises the majority of his campaign money outside Iowa and engages in Chicago-style pay-for-play.  Iowa deserves better. 

Republican candidate for State Treasurer, David Jamison said “For decades Mike Fitzgerald has survived in the shadows engaging in unethical behavior.  It’s time to shine some LIGHT on this important office.   Iowans deserve a Chief Finance Officer that is open, honest and focused on IOWA.”

It is time for new leadership in the treasurer’s office.  Dave Jamison is a United States Marine Corps veteran with 16 years experience as a public finance officer and a proven track record of fighting government corruption and red tape.

Contributor Location Business Business with Iowa / Treasurer’s Office Contribution to Fitzgerald
Bank of New York PAC New York, NY Banking Custodial Bank for IPERS $11,000
Martin Lacoff Greenwich, CT Associated with Cohen, Milstein, Hausfeld & Toll, Law Firm

Legal Counsel for IPERS

$2,500
Lynden Lyman Boston, MA Managing Director, Affiliated Computer Services, Inc Unclaimed Property Clearinghouse The Clearinghouse is the leading provider of support services to state unclaimed property programs, working under contract with all 50 states $9,550
Berstein, Liebhadrd and Lifshitz, LLP New York, NY Law firm specializing in securities fraud and institutional investor litigation Legal Counsel for IPERS $3,500
Affiliated Computer Services Inc, Good Government Committee Washington, DC ACS Services – PAC The Clearinghouse is the leading provider of support services to state unclaimed property programs, working under contract with all 50 states $2,500
Steven J. Toll Washington, DC Cohen Milstein Sellers & Toll PLLC Legal Counsel for IPERS $1,000
Herbert Milstein Cohen Milstein Sellers & Toll PLLC Legal Counsel for IPERS $1,000
Jeremy Katz Whitplains, NY Affiliated Computer Services, Inc Unclaimed Property Clearinghouse The Clearinghouse is the leading provider of support services to state unclaimed property programs, working under contract with all 50 states $300
Paula Smith Austin, TX Affiliated Computer Services, Inc Unclaimed Property Clearinghouse The Clearinghouse is the leading provider of support services to state unclaimed property programs, working under contract with all 50 states $400
George Moje Quincy, MA Affiliated Computer Services, Inc Unclaimed Property Clearinghouse The Clearinghouse is the leading provider of support services to state unclaimed property programs, working under contract with all 50 states $500

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The Iowa Republican





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