In a surprising move, New York Governor Kathy Hochul has appointed Richie Kessel as the new chairman of the Nassau Interim Finance Authority (NIFA), a state financial oversight and control board for Nassau County. Kessel, a known political figure with a history of controversy, has raised concerns about his ability to provide independent oversight due to his partisan background. Critics argue that his appointment is akin to putting the fox in the hen house, as he has been accused of fiscal mismanagement in previous positions. Kessel’s past includes being fired from the Long Island Power Authority (LIPA) by Governor Eliot Spitzer in 2007 and being investigated by the state Attorney General, state Comptroller, and the Inspector General, all of whom found irregularities in his actions.
Kessel’s track record raises questions about his suitability for the position of NIFA chairman. As a former member of NIFA, I understand the importance of having independent directors who can oversee Nassau County’s finances without succumbing to political pressures. Kessel’s past as a political lackey in the administrations of Governors Mario Cuomo and George Pataki is concerning, as he has been known to follow orders rather than act in the best interest of ratepayers and taxpayers. Moreover, his tenure at LIPA saw the organization grow unnecessarily and make questionable financial decisions, such as ignoring bidding contract rules and using funds for political polling. These actions not only raise ethical concerns but also suggest a lack of fiscal responsibility.
Governor Hochul’s decision to appoint Kessel as NIFA chairman is puzzling given his controversial history. The board requires a dedicated fiscal overseer who can ensure responsible financial management, and Kessel’s track record raises doubts about his ability to fulfill this role. With investigations conducted by various state authorities, including the Attorney General, Comptroller, and Inspector General, uncovering irregularities and potential violations of laws and codes of conduct, it is questionable why Hochul would place someone with such a tarnished record in such a crucial position. It is essential for NIFA to have independent and trustworthy leadership to effectively oversee Nassau County’s finances and protect the interests of its residents.
