Forbes slams Moore's campaign fundraising

State Treasurer Richard Moore, a Democrat who is considering a run for governor, is the subject of a story in Forbes magazine that criticizes him for taking contributions from investment firms who are getting a piece of the state pension fund.

"Pensions, Pols, Payola" is the headline of the article in the upcoming issue of Forbes.

Since winning re-election in 2004, Moore has raised $381,000 from investment firms for his campaign committee and another $163,000 for his fiscal education foundation, Forbes reports. Of the 90 firms that invest in North Carolina funds, 40 have employees who have donated to Moore's campaign.

"That looks like a blatant conflict of interest, yet is entirely legal in North Carolina, as it is in most of the U.S.," says the Forbes article. "State and local governments are a cesspool of pay-to-play. ... The case of Richard Moore is particularly galling, for this man has built his career crusading against conflicts of interest on Wall Street."

Moore's fundraising among investors has been previously reported in North Carolina newspapers. But the Forbes article goes into greater detail. Forbes also said the magazine threatened to take Moore to court before being handed information on the payments made to fund managers.

Jay Reiff, Moore's political consultant, said the article failed to point out that North Carolina's pension fund has been rated as among the best-run in the country. He said Moore has followed the law in accepting contributions.

"This political hit piece by a Wall Street publication is clear evidence that Treasurer Moore has made some enemies in the financial world by calling for more accountability in America's corporate board rooms," Reiff said.

Graham for governor?

Salisbury attorney Bill Graham took a step closer Thursday to entering the 2008 governor's race, announcing he was creating an exploratory committee.

The formation of the committee will allow Graham to begin raising money for the GOP primary. He suggested in e-mail to supporters that a formal announcement would be this spring.

"Over the past few days and indeed the past few years, many of our public officials have let us down," Graham wrote. "Too many have subscribed to a pay-for-play system that sells influence and even laws to the highest bidder. The stench of corruption coming out of the state Capitol is nauseating and it's time for a change."

Utilities nominee opposed

Environmentalists are mounting opposition to Gov. Mike Easley's nomination of Raleigh utilities lawyer Edward Finley to the State Utilities Commission.

In a letter sent Thursday to the governor, leaders of 17 environmental groups expressed concern about Finley, who as a lawyer from Hunton and Williams, has specialized in representing energy providers.

"While no one can judge the actual motivations and political processes behind Mr. Finley's appointment," the environmentalists wrote, "they will come into question at a time in which trust in the integrity of our elected officials has taken a major beating. More public skepticism about our political institutions is not what North Carolina needs right now."

The nomination could provide an early test for new House Speaker Joe Hackney, an Orange County Democrat and an environmental ally. The legislature must confirm appointments to the Utilities Commission, which regulates power companies.

Easley: Black fell to flaws

Why did former House Speaker Jim Black take illegal cash from chiropractors and bribe a state representative to stay in power?

Easley has a simple answer: "Human flaws."

During a news conference Thursday, Easley did not blame the campaign finance system, lengthy terms for legislative leaders or the influence of special interests.

Those answers have led others to call for reforms and new ethics rules.

Instead, Easley said elected officials and the public should recognize that there are "human frailties and human flaws and you can't control all of them with laws.

"People have to control a lot of that themselves with their own conduct and their own character," he said.