Morning Read: Campaign Finance Troubles; Espada’s Troubles

The city’s campaign finance system, with matching public funds, has great trouble recouping surplus funds from candidates post-election. 

There’s also a quirk related to runoffs that allows candidates to transfer money into their own PACs.

In addition to Pedro Espada’s state troubles, Marcia Kramer reports federal prosecutors are nearing an indictment. (“We tried to give him an opportunity to ask some questions, but then the police showed up,” she reports.)

Marty Markowitz, still mad over Hudson River fireworks, doesn’t get why we would be “providing viewing pleasure to residents in New Jersey.”

Ray Kelly apparently went to Paris last week, invited by Nicolas Sarkozy.

Pension costs in NYC are exploding, funds are not making target returns, and the FDNY fund is the worst off (“$5 billion in uncovered obligations”).

Albany lawmakers are seeking to nullify a sales tax it imposed on livery cars, because (surprise!) it’s hard to collect from the all-cash business. 

Port Authority cops (in contract negotiations) say that they are instructed to reclassify theft as lost luggage at JFK.

A group of Rochester parents drove to Malcolm Smith’s district office to protest mayoral control.

The Daily News editorial board wants the state to fix a found a glitch in the new voting machines.

The DN also wants more dollar vans amid MTA cuts. 

ebrown@observer.com