Thursday, December 8, 2011

Watchdog agency fines former Pinole councilman $111,500 for ethics violations


Updated: 12/08/2011 11:42:03 AM PST 


Former Pinole Councilman David Cole was slapped with $111,500 in fines by a state ethics watchdog panel on Thursday for financial disclosure and conflict of interest violations connected to his work for a developer doing business with the city.

The action, by the state Fair Political Practices Commission, was by default. Cole is in the U.S. Army in Colorado and did not file a response to the commission's charges.

Cole was on the Pinole council from 2000 until he resigned in August 2007 and enlisted in the Army for a four-year tour of duty that included deployment in war zones. He re-enlisted earlier this year and is now a sergeant.

Between 2003 and 2006, Cole and his company, Pinole Valley Landscape, worked for The Kivelstadt Group, the developer partner in two shopping centers with the Pinole Redevelopment Agency, earning $253,000 during the period, according to the FPPC; the 23-count complaint accused Cole of voting with the council 16 times during that period on items related to TKG.

The other counts accused Cole of failing to disclose his interest in Pinole Valley landscape and his income from TKG for several years on his annual Statement of Economic Interests.

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Submitted by Jim Alex

22 comments:

Anonymous said...

Senator Dianne Feinstein from California - one of the two Liberal females, that run California from Washington - Insider trading, do yeah think? Think she never talks to her husband an investment banker? Think again America, Think again California, while you're scrapping to pay the mortgage and put food on the table. Think again while you're looking for a job that isn't there.
In 1980, Feinstein married Richard C. Blum, an investment banker. In 2003, Feinstein was ranked the fifth-wealthiest senator, with an estimated net worth of $26 million. By 2005 her net worth had increased to between $43 million and $99 million. Her 347-page financial-disclosure statement - characterized by the San Francisco Chronicle as "nearly the size of a phone book" –
Now, keep in mind this is only her net worth. What about her husband who isn't required to disclose his financial information????

Kathy Meeh said...

Twisted Anon (1139), liberal thinking is good and progressive, whereas the alternative current "no brain" Tea Party and conspiracy trend you represent-- not so much. True conservative thinkers are better represented through the ideas of George Will and Charles Krauthammer. And, what happened to the prior, more rational Republican party, where did that go?

There are lots of millionaires in Congress and the Senate, that's not news. Disclosure is transparency, that's the reason Senator Diane Feinstein produces a financial statement, as do others.

Your implication that there is some irregularity associated with Feinstein's husband's financial dealings, fits into the category: 1) you're a liar, or 2) prove it (whereas there is no existing proof).

Your constant bombarding of this blog with unsolicited far-right-wing ideological and mythological political garbage is annoying. And, BTW, Dianne Feinstein is a middle-of-the road Democrat, so you can't even figure that one out. Her leadership was good in San Francisco, and has been good for this nation.

Anonymous said...

My old Oklahoma granny used to say vote democrat because they've still got hearts and vote rich because if they've got their own money they won't be stealing yours. With some refinements, I find I'm still following that advice and proud of it! I've always voted for Dianne Feinstein and hope to again.

Anonymous said...

"For example, Pelosi and her husband doubled their stock investment on a highly sought after Visa IPO in a matter of only weeks, according to Schweizer."

“She and her husband were given access to low price, pre-IPO shares of stock — 5,000 shares that they were able to buy for $44 apiece and then they were able to see that value go up by 50 percent in one day, and then more than double in value within a couple of weeks,” he says, adding that the deal took place during Pelosi’s reign as Speaker.

“They were given access to this stock that really hardly any other individual investors were,” he explains. “I would argue the timing was significant because they were given access to the shares at the precise time that Visa was very concerned about two pieces of legislation that would affect its bottom line. And — oh by the way — those pieces of legislation were never even brought by House Speaker Nancy Pelosi to the full house for a vote.”

He says there were at least eight other instances where Pelosi got access to IPO deals.

Read more on Newsmax.com: Author Schweizer: Pelosi Made Killing Off of Most In-Demand IPO in History

Kathy Meeh said...

Guess what, Anonymous (922), insider knowledge of stock trading is NOT illegal in the US Congress or Senate. Any such dealings are completely legal, from which ALL these leaders may profit, and many do just that.

Newsmax is another heavily biased right-wing spin machine. "Fair and balanced": let's hear about all the right-wing Republicans who have profited from the same loop-hole (assuming the Pelosi account you have presented may or may not be true, of course).

Here's a question for you? Why isn't the "insider trading" legal loophole being closed through legislation? Oh, I forgot, these days not much important, significant or even procedural maintenance legislation is getting through the Republican majority House or the minority Republican controlled Senate (result of the abused 60% filibuster vote).

Suggestion: how about giving us all a break, read and view more balanced source and reported information; then, express your views on a specialized national politics blog forum. If you're looking for a "mission accomplished" here, for example me, what you've accomplished is making the left look more reasonable.

Anonymous said...

Call your elected officials and ask them to support the Stock Act. Legal? it should not be. We need to make this illegal. Martha Stewart went to prison for insider trading and so should our elected officials, they are NOT above the LAW.

Anonymous said...

Call your elected officials and ask them to support the Stock Act. Our elected officials are not about he law. If Martha Stewart had to go to jail for insider trading then so should Nancy Pelosi.

Kathy Meeh said...

Anon (934), hello, House Majority Erick Cantor leader (Republian) pulled the Stock Act bill, see Drudge Report 12/11/11. Why do you suppose that happened? Then consider re-reading the 12/11/11, 10:33am comment (above).

BTW Martha Stewart went to jail for lying to Federal Officials, not for insider trading, see quick wiki answers.

Here's a question for you: do you think a few big corporation bankers should go to jail?

Anonymous said...

A few? WTF. All of them should go to jail by virtue, snicker, of their job description. Have Martha drop by to teach daily arts and crafts, along with classes on How To Talk To Anyone, soap-making, trompe-l'oeil painting, bologna art. Widen the net and include Madoff. Bet he'd be great at tromp-l'oeil.

Anonymous said...

Call your elected officials and demand that they support the Stock Act. Our elected officials are not above the law.

Anonymous said...

Pres Obama says Jon Corzine was his first choice for Sec of Treasury, he picked Turbo Tax Timmy Giethner instead. Jon Corzine was the head honcho in charge of MF Global, should indeed go to jail and so should Barack Barry Soetero Hussein Obama. Farmers and ranchers lost all their funds at MF Global, poof, disappeared. Farmers and ranchers were unable to buy seeds. Prepare for a food shortage.And, yes, to answer the question above ceo of corporation have gone to jail and so should ceo of banks, like Barry Soeteros good friend and financial advisor Jon Corzine.

http://blogs.reuters.com/felix-salmon/2011/12/12/jon-corzine-rogue-trader/

Anonymous said...

Anonymous (437) read 12/13, (105), above, and click through to the Drudge Report and read their comments. House majority leader, Eric Cantor (Republican) dropped that bill from consideration. Looks like you're just posting comments without reading comments, can't learn anything new that way, come on.

Anonymous said...

Jon Corzine is affected by a financial scandal, but it looks like any savvy US Presidential administration (Democrat or Republican) would have considered Jon Corzine to be a viable candidate for US Treasury Secretary, leading up to President Obama's choice of Timothy Geither.
Meantime, think I'll view this directly unrelated to the White House scandal with mild interest as it goes through due process.

Here's a few related articles late 2008, when the choice of Treasury Secretary was made: Time Special, 11/5/08, "Who will be Obama's pick for Treasury Secretary?", 6 pages: Larry Summers, Joh Corzine (page 3), Timothy Geither, Sheila Bair, Paul Krugman. Suggested short list.

The Nation, 11/14/2008, always a good read.

And, a recent quick comment from Yahoo answers 12/8/11: "Corzine certainly has one of the "qualifications" that official Washington demands. He is a former senior partner with Goldman Sachs, the firm that has contributed so many Cabinet secretaries and administration insiders over so many years that it is referred to as "Government Sachs."

Maybe question some of the blog sources you are viewing with better, more balanced information. How about get a name, then I will respond with a name as well.

Anonymous said...

Recent documents show that Jon Corzine is lying and does know what happened to the money. This just reported. Do your research.

Anonymous said...

Listen up folks..here's the gist of it..
JPMorgan Chase has over 90 Trillion in derivatives on its books..more than the entire GDP of the entire world..which is approximately 60 trillion..

If any of you have stocks.bonds.401's pensions etc..it's not there if you decide to cash it out collectively..they own it.it's leveraged out in cyber banking.read the fine print from all your trading portfolios and agreements..what happened at MF Global is but a the tip of the iceberg...do some research for those of you who might be fortunate enough(or in this case unfortunate) to have assets in paper..

The EU situation will be affecting all of us here stateside very soon...over 40 % of our exports are to the EU..when it totally collapses...ughhhh..

Personally i have nothing on paper..no assets..but spend my spare time reading and researching the ugly truths..keep on prepping..

and may God bless us all for what's coming...prepare!!!

Steve Sinai said...

The quota for obsessive Corzine/MF Global comments has been reached for the day.

Kathy Meeh said...

Anon (747) Which kind of derivatives are you referring to? They are not all alike.

Where are you getting your information? Sure the world economy is difficult time (we've known that for at least 3 years). Countries, nations and world alliances meeting, talking, uniting and coping-- and there may be additional financial instability here, the result of the European financial crisis, including England. That's the balanced financial management view, rather that what you are posting here (the hysterical view).

You said (above): "Personally i have nothing on paper..no assets..but spend my spare time reading and researching the ugly truths..keep on prepping.." Why? You are treading in rumor. You have no equities, you are not an expert, you do not quote sources, your information is incomplete, lopsided, probably not from reasoned sources, but rather from hysterical "blogs", STOP IT - (the God you mentioned will get you for that).

You want to be scared, don't share your "sky is falling" nightmare of your own making. Maybe try doing some reading about Pacifica, could be more "peaceful".

Steve Sinai said...

It's the battle of obsessive wing-nuts.

Now I feel obligated to let the person with the Corzine obsession respond. If "Fact Check" had the self-discipline to stop responding to everything, then this whole ridiculous thread would stop.

Anonymous said...

Mr. Sinai, Clearly they feel a kinship, perhaps even an attraction. You don't want to get in the way of that force.

Kathy Meeh said...

"If "Fact Check" had the self-discipline to stop responding to everything, then this whole ridiculous thread would stop."

I don't think so, this kind of radical right-wing smear bombardment about national political issues is not happening from the left, or the middle. I wouldn't care, but this anonymous commentary is fiction. Label it as such (creative writing) okay (but not really), pass it as fact, no.

Give it no response it will go away? Sure it will (not). Give it credibility and it will accelerate. Reward rather than punishment is classic Pavlov, rather than what passes for don't feed the trolls.

This Anonymous probably thinks the right-wing quest is a "holy war", and that those of us who are aggravated and "turned off" by this broadcast nonsense will ultimately be converted, "brain washed" through transferable rules of propaganda.

Conditions of this Anonymous commentary: No name, limited to no credibility of information, broadcast commentary without follow-up or tracking previous comments, no real dialog, no indication of follow-up or learning. Why is this different from national ads or other unacceptable spam?

And, how Anonymous is "Fact Check"? The answer is not hidden, just a name click away. (People with names gain heat, but they also gain respect).

Anonymous said...

Listen up Pin Head, the Global Climate debate is officially over, get it? dead on arrival. Get your head out of your ass.

Anonymous said...

That should work. Are we having fun yet out there in Dingburg?