Guest MINDSETTER™ Siedle: The Largest Crime in RI History

Guest MINDSETTER™ Edward Siedle

Guest MINDSETTER™ Siedle: The Largest Crime in RI History

Edward Siedle
There are three facts that should be abundantly clear to all Rhode Islanders by now—three unprecedented developments:

1.   Raimondo raised unprecedented amounts of money from out-of-state mystery donors to support her political ambitions.

2.   Under Raimondo’s leadership, the state pension paid unprecedented amounts of money to Wall Street hedge funds in an outrageous gamble.

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3.   The state pension suffered unprecedented losses—lost at least half billion as a result of Raimondo’s gambling.

These indisputable facts, I submit, warrant investigation of what I’ve called the largest crime in Rhode Island history.

It’s obvious what happened here—state pension money—workers’ retirement savings were squandered to further Raimondo’s political ambitions.

Your current Attorney General Kilmartin has demonstrated a steadfast commitment to doing nothing.

Peter Neronha, who’s running unopposed to be your next AG is a Kilmartin clone—equally committed to doing nothing.

As is well-known, for the past 5 years I have been communicating my concerns and findings regarding pension wrongdoing to the SEC and asking for further investigation.

Last week the SEC took action—preliminary action. Don’t be surprised if there’s more to come.

The SEC’s findings are the tip of the iceberg—involving what I would call “accidental” payments.

Why accidental?

Because today Wall Streeters know they don’t have to make direct payments to candidates to pay-to-play.

Pay-to-play today almost always involves “dark money” paid to super PACs—untraceable donations.    

The bad news is Rhode Islanders got ripped off by Raimondo and young “Kid” Magaziner is perpetuating the abuses.

On the bright side, Rhode Islanders should be encouraged that SEC is listening.

It takes time.

Just last week, I received final payment for blowing the whistle on a fraud I first reported in 2011—seven years ago.

When it comes to government prosecutions, delays do not amount to determinations of innocence.  


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