newsobserver.com projects - House votes for Treasurer options - Comments

Re: House votes for Treasurer options

PaulTerrell — Fri, 29 May 2009 20:36:26 -0400

It is Hypocrisy!

Democrats across this nation and state are AGAINST you investing up to 2% of your Social Security. But then they are for this? Oh come on Democrats, stop saying it is ok for you but not the rest of us. Your arrogance is showing!

Re: House votes for Treasurer options

Isaac136 — Fri, 29 May 2009 10:51:05 -0400

Janet Cowell knows what she is doing and will serve this state well.

And for god's sake, there's no incentive for anyone in the Treasurer's Office to screw over anyone's interests, so the partisan-based charges are ridiculous. Richard Moore, DEMOCRAT, took great care of that office, which is why our pension fund is one of the healthiest in the country.

Whining, carping, bleating twits can whine, carp and bleat, but everyone who knows Cowell knows she's super sharp and is doing a great job.

Re: House votes for Treasurer options

BitterEXdemocrat — Fri, 29 May 2009 10:26:46 -0400

Dont believe a word that Pryor Gibson ever states...

Re: House votes for Treasurer options

PaulTerrell — Thu, 28 May 2009 16:55:50 -0400

We are going to be over $4 BILLION in debt because of the decisions made the Democrats in this state. After all they are completely in charge and bear ALL responsibility for the current crisis.

Re: House votes for Treasurer options

Kingixolib — Thu, 28 May 2009 16:10:35 -0400

This move is extremely dangerous.

"We hire professionals to do a job over there," Gibson said.

The professionals in Raleigh have had a lot to do with all the current problems......giving them more power to do even riskier things seems a contraindication at this point.

House votes for Treasurer options

bniolet — Thu, 28 May 2009 14:24:30 -0400

The House approved a bill that would give state Treasurer Janet Cowell greater flexibility in investing the state's pension fund.

The treasurer oversees the fund, a $55.9 billion pool of money, that pays retirement benefits for teachers and state and local government employees.

Cowell's office was pushing the bill. The target for return on investments in the fund is 7.25 percent. Without the bill, Cowell's office estimates a return of 6.92 percent, which would translate to a $1.3 billion annual shortfall.

Opponents said the bill would allow risky speculation.

"We need to reduce the risk," said Rep. Bill McGee, a Clemmons Republican.

Rep. Pryor Gibson, a Wadesboro Democrat who fended off multiple amendments meant to limit investment options, said the legislature should trust the Treasurer's office to make the right decisions.

"We hire professionals to do a job over there," Gibson said.

The bill must now return to the Senate before it would go to the governor.