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The Proctor Then Asked DiNapoli, “And Where’s Your Homework, You Little Twerp?”

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We’re not going to pretend we went five-for-five on the “Comptroller 101 Quiz” the Post administered to Thomas DiNapoli yesterday at the Plaza Café, in scenic Great Neck, Long Island, just off the LIRR. But we’re not state comptroller of New York (yet). In TD’s defense, his poor performance definitely could have simply been first day jitters, if not the cuisine at the Plaza Café, which is best known on the island as “the poor man’s Hi-Lite Diner” (located in Port Jefferson, just up Route 112). Judge him as you’d judge yourself (if you were the comptroller of New York).

DiNapoli…took a feeble crack at five Economics 101 questions asked of him, getting them flat-out wrong, hedging on them or fidgeting uncomfortably while he fished for an answer. In one instance, he straight-up admitted he didn't know the answer.
For example, DiNapoli blew off a question about an economic situation that is considered a predictor of a recession - and then railed at The Post for even asking.
DiNapoli also missed by about 600,000 the number of retirees and beneficiaries who are part of state pension fund. He didn't even know the return of the fund's investments last year - more than 14 percent - saying only, "It was very strong."
And he couldn't say what the fund's largest holding is, grinning and fidgeting as he promised, "I'd be happy to get back to you on that one."
There was no answer at all to a question on how much of the fund is invested in stocks.

In an undisclosed location, Eliot “Steamroller” Spitzer is stroking a white cat and remarking to an aid, “It’s all coming together now, Mopsie. It’s all coming together.”


The Securities And Exchange Commission Requests A Little Credit Where Credit Is Due, Please!

Yesterday, the Wall Street Journal ran a front page story reporting that the Securities and Exchange Commission had "blown" the cover of whistleblower Peter C. Earle. The article claimed that Earle, a former employee of Pipeline Trading Systems turned government informant, had his identity "inadvertently" revealed through a "gaffe" on the part of an SEC lawyer, who showed a Pipeline exec "a notebook from the whistleblower filled with jottings about trades, calls and meetings." The executive was said to have recognized Earle's handwriting and told his colleagues, who had previously suspected but did not know for sure that "Pete's the whistleblower." The story was easy to believe because if you've been keeping up with the SEC over the last number of years, you know that this sound exactly like something they'd accidentally do. Except that whereas the regulator fully copped to, for example, missing Madoff while trying to access 385 times/day, it says that this accusation? Is bull shit. It did not "inadvertently" "blow" anyone. Here's its strongly worded letter to the Journal saying as much: The Securities and Exchange Commission in no way exposed Peter Earle as a whistleblower, and our use of his notebooks in an investigative deposition was neither "inadvertent" nor a "breach" or "gaffe" ("Source's Cover Blown by SEC," Page One, April 25). It was a deliberate decision, which SEC lawyer Daniel Walfish discussed in advance with his supervisor, who was present for the deposition in which the notebooks were exhibited. Nor did the fully authorized use of the notebooks in any way compromise Mr. Earle or the integrity of the SEC's investigation of the Pipeline Trading Systems matter. Although it was widely known among executives of Pipeline and Milstream Strategy Group that Mr. Earle had approached the SEC after he was terminated from Milstream—a fact volunteered by several witnesses and acknowledged by Mr. Earle long before any use of his notebooks—the SEC declined to confirm his identity and still treated his status as a cooperating witness as confidential. The SEC made sure to obtain all of the notes of the approximately six Milstream traders, and in the SEC's deposition of Gordon Henderson (the supervisor of Mr. Earle and the other traders), the SEC used other traders' notes along with those of Mr. Earle. The use of these traders' notes—highly relevant evidence prepared in the ordinary course of their work at Milstream—in no way revealed whether Mr. Earle or any other trader was or was not cooperating with the SEC. George S. Canellos Director New York Regional Office U.S. Securities and Exchange Commission New York SEC Did Not Blow Source's Cover [WSJ] Earlier: SEC Burns Whistleblower In The Most SEC Way Possible