A slush fund is money which a politician can use with no strings attached, and with no supervision. Governor Andrew “JMario, Jr.” Coumo has set up such a fund, from Green Biz :
New York’s first bank dedicated to boosting the deployment of clean technologies is set to open in early 2014, after the state’s Governor confirmed an initial $210 million of funding.
On Thursday last week, Governor Andrew Cuomo confirmed an initial $210 million backing for the Green Bank, $165m of which is from unallocated government funds, such as surcharges in utility bills that the state already collects for energy-efficiency programs, and $45 million from the Regional Greenhouse Gas Initiative emissions trading scheme.
Two hundred ten million dollars wrestled from the over burdened taxpayers of New York State, to be spent at the sole discretion of Junior, surely to boost his re-election campaign. What could go wrong?