Tom Ward Calls Out Potentially Costly P.C. Bullying by State Treasurer


Echoing (presumably inadvertently) Justin Katz’ similar reservations about the General Treasurer’s “foolish politically correct showboating” with the state pension fund, Valley Breeze Publisher Tom Ward offers an excellent critique of the GT’s recently announced, very foolish new criteria for the choosing of investments for the state pension fund.

By choosing investments based on feelings and a political agenda, isn’t it possible that the fund won’t do as well as those which focus specifically on making as much money as possible for retirees? Or are we saddled with investment managers whose PC agenda is more important to them because taxpayers have to make up for their poor performance anyway?

Great point. It’s so easy to make yourself look good and claim the (highly dubious) mantle of political correctness when someone else will be forced to make up the difference financially. But it may not just be taxpayers who would have to do so. Presumably, Mr. Magaziner will make himself widely available to state retirees facing a potential haircut to explain to them how being p.c. was more important than the intactness of their pension check.

  • Rhett Hardwick

    Providence Grand Prix? Here is a cut from this morning’s Boston Herald “Then Casey let it be known he was taking his speedy race cars to a city that really wanted them: Providence.” Some may know that Mr. Walsh has been attempting to form a Grand Prix race in Boston. He has finally been stymied by the Dept. of Environment’s refusal to permit a race in a “Flood Zone”. But this is the first I have heard of moving it to Providence. I like the idea.

  • Rhett Hardwick

    Today’s Herald:

    Casey and his group now will look for another city to host the race. Providence has for years been rumored to be on the verge of an agreement to host an IndyCar race.

    Though Emily Crowell, spokeswoman for Providence Mayor Jorge Elorza, said nothing has been finalized.

    “IndyCar has not applied for any permits or made arrangements to relocate the race yet,” Crowell said, “but we’re open to having a conversation to see if Providence is the right fit for 
their event.”