May 19, 2010 |
No candidates or podcasters were hurt in the broadcasting of today’s show. GOP nominee for treasurer of the commonwealth and receiver general Karyn Polito joined us to say why she was interested in and qualified for the office as well as what she would do.
Time note: She enters the show at 15:25. You are welcome to hear the three of us talk about yesterday’s primaries first, but catch her then.
Polito said she looked forward to debates for the office…as soon as the Dems have their convention and produce one or two candidates. If there’s a primary, that would be she with Steve Grossman and Steve Murphy.
Particularly with Grossman, thinks that “there’s a very clear choice.” He defines his vision for the office as that of an activist treasurer. She sticks with fiscal conservative and said that her role in the office would be to “get the highest rate of return with the least risk” for the pension funds she would control. “There is a very clear choice” between candidates, she added. She doesn’t think the treasurer has the authority to take political stances, such as she has done in the past decade as a state representative.
She did describe the political angle to the office. While she notes that she would come in as an independent treasurer, the office has become a “political catchall.” That is with the lottery, alcohol control board and numerous other money-related functions, the treasurer has inherited a variety of seemingly mismatched duties and authority.
A symbolic way Polito intends to illustrate independence would be to refuse a pension. She hopes that sets the tone for newly elected officials. She believes civil servants should receive pensions but not so pure politicians. She wants to set an example.
For her primary role as overseer of the $44 billion in pension funds, she would like to use those as models for efficiency as well. She thinks the many millions we pay annually in management fees are likely unnecessary. She favors passive index funds to simultaneously get good returns in safe investments with no fees.