Daley nephew: Chicago police rip thei...

Daley nephew: Chicago police rip their pension fund for investi...

There are 14 comments on the Chicago Tribune story from Apr 29, 2009, titled Daley nephew: Chicago police rip their pension fund for investi.... In it, Chicago Tribune reports that:

Dozens of Chicago police officers jammed their pension fund's board meeting Wednesday to question an investment deal for a real estate firm involving a nephew of Mayor Richard Daley .

Join the discussion below, or Read more at Chicago Tribune.

Tony

Springfield, IL

#1 Apr 30, 2009
John - John - John!! Pension Fund Director Gallagher claims the board didn't know Vanecko was related to the Mayor. John, let me see if I have this right? Steve Lux - Comptorller of the City of Chicago is a member of the board of director and you would have us beleive he would not have known. Yeah Right!!!
Chicago Slim

Chicago, IL

#2 Apr 30, 2009
from the article: "There is a segment of police that does not like Daley or anything that has to do with him," Gallagher said.

That is true. And that segment is any police officer who is not directly tied to the Daley family umbilical cord. Gallagher likes to put this as a "certain segment," I would say it is more of an overwhelming majority of police, in fact I would say it is way over 95% of the Police Department "that does not like Daley or anything that has to do with him,"

And that includes not liking John Gallagher and his dolly secretary Karina R. Fruin. She is the little lady who is getting her law school tuition paid for by the Policemen's Annuity and Benefit Fund of Chicago. But she just might be related to a former commander of the police department. Funny how that works.

Any reporters out there who care to check that one out and report back?

I was at that pension fund meeting. The trustees seemed stunned at the large police presence. they are not accustomed to operating under scrutiny of those whose money they dole out.

Those officers want the looting of our pension fund by Daley and his family and friends to stop! A federal investigation would be nice also. You can't have too many of those in the city run by Daley
tombstone louie

United States

#4 Apr 30, 2009
mayor daley chief financial officer paul volpe is a trustee on the pension board now you know where the money is going all in the family what is the fop doing beside nothing
Michael Brennan

Chicago, IL

#5 Apr 30, 2009
Patrick Fitzgerald is a phony. Stevie Wonder can see what going on. Daley and his family should take up residence in the steel Hilton,on Congress street.
How About

AOL

#6 Apr 30, 2009
I'd like to see all of the CPD catch the 'Blue-flu' for a few days...
Then let's see how the sheity of Chicago fairs.
Let the streets run with blood for a few days and then execute the Mayor, his family, the city council, the county baord chairman and the county board. Liars, cheats, theives, scoundrels and skallywags one and all of 'em.
Yup, take away their armed body-guards and let's deal with these pond-scum once and for all!
Joe Public

Chicago, IL

#7 Apr 30, 2009
What is the pension funds risk expousure on this investment and how well has it preformed?
Short Bus

Buffalo Grove, IL

#8 Apr 30, 2009
A Daley family member makes out like a bandito on a city pension fund deal. Wow. Who woulda thought...

“Life is a SPICORAMA”

Since: Sep 08

Springfield, IL

#9 Apr 30, 2009
Tony wrote:
John - John - John!! Pension Fund Director Gallagher claims the board didn't know Vanecko was related to the Mayor. John, let me see if I have this right? Steve Lux - Comptorller of the City of Chicago is a member of the board of director and you would have us beleive he would not have known. Yeah Right!!!
Are you calling Gallagher a liar??
Not In The Family

United States

#10 Apr 30, 2009
This patronage is happening at all of the City, State and County Pension Funds. Not just the Police Fund. All of the meetings are Open to the Public and occur every month, so where is the media every month? Every news channel reporter should be busting down those doors.
tombstone louie

United States

#11 Apr 30, 2009
something wrong at the police pension board when they refuse to comply to supoena what are trying to hide pension should be audit find out where the money is going before its to late mr gallagher and the pension board should resign for incompetence
Get Real

United States

#12 Apr 30, 2009
Joe Public wrote:
What is the pension funds risk expousure on this investment and how well has it preformed?
Where have you been joe? under richies nut sack. Who's gonna quaify to buy this crap their building on contaminated land? What's the risk exposure, please. Look who's involved with the deal, workers pensions and daleys nephew. After 20 years of this fraud its not hard to guess the outcome joe.
Chicago Slim

Chicago, IL

#13 Apr 30, 2009
Joe Public wrote:
What is the pension funds risk expousure on this investment and how well has it preformed?
$15 million committed; $5 million disbursed; that $5 mullion is now worth $3 million but that is probably due to the provision whereby the recipients of the funds (Davis and Vanecko) are guaranteed a "fee" (profit_ up front and off the top.

How's that for a risky real estate venture? And this is Vanecko's first real estate venture! He did pretty well. Good thing no one knew he was the Mayor's nephew or they would have done the right thing and turned him down. yeah right.

The Vanecko clan is continuing the Daley family tradition of swilling at the public trough, drinking deeply from the unending river of money that runs through the Chicago ruled by Daley.
I PASS

AOL

#14 Apr 30, 2009
Perhaps we should let Daley and his cronies patrol Lawndale and Humbolt Park for a few... minutes. They'd be dead meat {below their heads too} in seconds.

Any bets the pension fund was parked soemwhere earning nothing over the past month while the S&P 500 ran up its' best one month result in 9 years?

Scoundrels.

The CPD should take a vacation until the changes that are needed are made.
John J Coughlin

Chicago, IL

#15 Apr 30, 2009
Michael Brennan wrote:
Patrick Fitzgerald is a phony. Stevie Wonder can see what going on. Daley and his family should take up residence in the steel Hilton,on Congress street.
I think he's just taking his time to build a good RICO case but in order to protect the city pensions Fitz should move on this asap just like he did with Blagojevich. The sooner some of the Daley klan is locked up the better.

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