At a press conference I held in 2001, I outlined the serious need for the establishment of a 'Federal Task Force on Corruption.' Such a Task Force would be modeled on the NYC 'Task Force on Corruption in the Construction Industry.'
I met with the Wall Street Journal's Banking Editor and members of the press about the questionable influence that Vernon Hill (CEO of Commerce National Bank) and George Norcross (CEO of Commerce National Insurance) exerted over government. Now the federally induced removal of Vernon Hill as CEO renews a call for an overarching, focused, Federal investigation into the spread of the illegal influence statewide by political boss, George E. Norcross, III and Commerce Bank Officials. Insider control of county and local and state governments by their Banking, Insurance and Bonding entities, forced other institutions to the outside. Having gained sweeping control over our public Improvement Authorities, Mr. Norcross and his cronies manipulated billions in bonds for pet projects. Covered under thick blankets of secrecy, they create the lucrative wells of funds from which their consultants, politicians and underwriters drank. In turn, those consultants contribute heavily to his PAC. We've been plunged into a world of weird archetypes who display childish fantasies of false superiority. Our democracy garroted, wounded, citizens as ghosts, vital signs depleted! Emptied of answers and sacrificed by political leaders to avarice and greed, we found ourselves inside a wormhole of dark matter. With power so concentrated, in their banking/insurance cartel, citizens were helpless.
Like a secret army of wood boring ants, they fixated on the political structures of our municipalities and counties.
With an unprincipled political boss at the helm they pulled in hundreds of millions in government deposits, insurance and bonding contracts. As if joined at birth, Vernon Hill and George Norcross plotted their course across the state. The power to say who gets development contracts or who runs for office, tightened their vise. Nowhere is this more apparent than in the debacle with the Pennsauken Mart, when Mr. Norcross decided he wanted to build a hockey arena at the spot. There was never a hockey franchise, yet an incompetent Camden County Improvement Authority spent $28 Million from a $35 M GANS for nothing.
'Management by political boss,' is a sure path to fiscal disaster. Further evidence exists in the case of D.R. Horton's building at Garden State Racetrack. Philip Norcross, Esq., of Parker McCay represents many developers across the state. Despite the serious construction problems that are noted in the files of Building Inspector, Anthony Saccamano, Philip Norcross intervened on behalf of D.R. Horton to get Mr. Saccamano to pull his 'Stop Construction' order. Then there's the questionable Cherry Hill-Hovnanian land deal.
Hovnanian made millions within hours, having performed no site work on the property. Cherry Hill's mayor Bernie Platt borrowed $8.5M from Commerce Bank for this questionable transaction paying the developer more than the land was appraised for. Cherry Hill Taxpayers are still paying. Not surprisingly, George Norcross refuses to publicly release his Insurance Commissions related to public contracts. 'No one's business' he says.' The public does not pay his commissions.
Not true! All businesses factor the costs of commissions into the final cost to the Consumer/taxpayer. Their chosen developer, Cherokee Investment Partners refuses to make public their 40 private investors. Even worse, Philip Norcross, Esq., lobbies for their 'insider' developers to get millions in low or non-interest loans from the State.
All tied up into lucrative packages, they kill off competition. Not only Anti trust in practice, but a license to despoil the environment. It is no coincidence that both political parties jumped into the money pot. Former Republican Senate President and Acting Governor Donald Di Francesco, moved millions in State Deposits into Commerce Bank. His wife worked for the bank at the time. DeFrancesco became a Bank Director soon after. Jack Collins, former Republican Assembly Speaker, struck a deal with the bank to become a highly paid lobbyist for them as well. Money talks!
In August/05, I wrote to Alberto Gonzales, U.S. Attorney General, (R) requesting the formation of a Federal Task Force. An Official at the Offices of Jersey's U.S. Attorney told me that they were inundated with citizen's complaints about corruption. Yet, an unprincipled Gonzales answered that the formation of such a Task Force was unnecessary.
Commerce Bank and George Norcross have boldly manipulated the government to their advantage. The public must rebel against the toxic influence of this megalith. The 'Fix' has been in for 20 years. The time has come to 'unfix' the 'fix.'
Alene S. Ammond, Former New Jersey State Senator
Former Director of the Public Policy Research Project, Inc.
