CDR Facing Bevy of Lawsuits

Among them Los Angeles who actually appointed Rubin to their Housing Authority

By William Heisel
January 6, 2009

The Beverly Hills financial advisory firm at the center of the investigation that derailed New Mexico Gov. Bill Richardson's hopes of becoming commerce secretary has had a series of run-ins with federal and state agencies -- and a growing list of former clients is now suing it for allegedly bilking local governments.......
But about 20 different cities, counties and school districts are now suing Rubin's firm, alleging it steered them to banks that paid CDR kickbacks.

Ultimate Outrage, why from CDR spokesman Alan Rip of course:

CDR's spokesman, Allan Ripp, disputed the allegations and said the company has always done what it's paid to do: provide sound financial advice.

"We want to emphasize that in all of these investigations and the leaks of the investigations there has never been a question of competence or performance or even ultimate value," Ripp said.

Just the other day Philedelphia Gas Works was forced to raise its rates to make up 60 million dollars from a failed deal CDR was involved with, In Florida the low income housing that is Oakwood terrace is a cesspool that has also been described as a concentration camp, and lets not forget Jefferson County, Alabama is on the brink of the greatest municipal bankruptcy in history. Add several FBI corruption investigations and an SEC punishment, and that is the actual value.

For the full Pay For Play CDR and the Democrats including what Black Box deals are click here.