CDR Financial Products and Tennessee

What else is new, Tennessee has been ripe for the picking in regards to the muni- bond scam and a quick look at CDR Financial products on a state and local level shows they spread cash all over the state. This guy Tobin ha splayed the job of contact and middle man, he works as an "advisor" or consultant, then funnels the money to the politicians to make everything nice and legal, textbook pay for play.

A financial adviser based in Bellevue, Wash., James Tobin, has been paid lucrative fees on Tennessee Municipal Bond Fund deals, and has directed thousands of dollars back to politicians in Tennessee through campaign contributions. Another former financial consultant with the fund, David Rubin, based in Beverly Hills, Calif., has also given thousands to Tennessee candidates.They're examples of the broad political web of the nonprofit bond fund and its influential president/CEO, Charles G. "Bones" Seivers.

Tobin, of Paragon Municipal Consultants, has been the fund's financial adviser for about two decades. He and Linda Tobin, listed at the same Bellevue address, have given approximately $68,000 in state and federal political contributions in Tennessee since 1998, according to various campaign contribution databases.

Many are to candidates Seivers and his family have given to as they've made tens of thousands in contributions — almost all to Democrats — over decades. Some even match Tobin's or Rubin's by date.

The Times did an expose on the the muni-bond scandal with a focus on the company Morgan- Keegan and so its not like this that much of a surprise that the state is rife with pay for play in regards to bond scams.