After the Morris Indictment, Paterson Considers Pension Fund Oversight

ALBANY—David Paterson says he would support looking at reforming the way the Office of the State Comptroller oversees the state pension fund, given news yesterday of a massive pay-to-play indictment.

"That type of indictment is so disturbing in its nature that we would have to take a look at the fact that we're still one of three states where the comptroller is really the sole practitioner when it comes to managing the pension fund," Paterson told reporters at an event to raise awareness around the Earned Income Tax Credit. "I think we would have to take a look at that, not because of the current comptroller or presuming that any comptroller violates his duties, but because of with a board it would harder."

"I'm certainly favorable to the idea. I have not asked the current comptroller about this, I know he opposes this and I'd like to give him a chance to try to persuade me. I don't want to be overreacting to a news story."

Andrew Cuomo, in announcing his indictment of Hank Morris and David Loglisci, called for similar steps yesterday.