While we still don't know how much income Assembly Speaker Sheldon Silver derives from a large Manhattan law firm where he has been of counsel for many years, or how much money it has enabled him to accumulate, he and his teacher wife do own about 68 different stocks, including many famous blue chips, along with several retirement and bond funds. That's according to his recently filed financial disclosure form. Under the law, the Legislative Ethics Commission redacts all the numbers before making the forms available to the public, and we don't know Silver's law clients, either.
Sen. Malcolm Smith, meanwhile, the putative majority leader, filed an even more illegible and illiterate form this year than last, for example spelling defunct "DEFunkeD". The new Assembly Republican leader, Brian Kolb, works as a banker, and has some kind of complicated interest in a company, Refraction Technologies, which only comes into play if it is sold for over $4 million.
John Sampson, the other Democratic leader in the Senate, is a lawyer for two New York City firms with a practice including "real estate, criminal, commercial, litigation, estate proceedings," which seems like a fertile area for conflicts of interest. Republican leader Dean Skelos has income from his own and another law firm, and putative President Pro Tem Pedro Espada is CEO of Soundview HealthCare in the Bronx.
Sampson is chairman of the Senate Ethics Committee, where he has opposed requiring public officials to reveal their private clients. Still, the Senate ethics disclosure bills would be a significant step forward. Of course they haven't passed yet, and even if they did are part of a package that radically differs from the Assembly's, which means even if the Senate somehow gets its act together and starts functioning, don't hold your breath for a new ethics law.
The Assembly ethics bill did pass that house, and it too has disclosure provisions that would be a major step forward if they ever saw the light of enacted day. They would, according to an Assembly press release earlier this month, "require increased financial disclosure by all public officials by ending the practice of redacting categories of value on legislative ethics disclosure forms, adding an additional category of value to better identify higher level financial interests, and require better descriptions of outside employment including information about the subject matters undertaken with respect to law practice and detailed information about consulting arrangements."