Credit Where Credit is Due

(Between this and Stapleton’s PERA concern trolling, he set the bar pretty high for his own performance–will they sing Stapleton’s praises come audit time like they did Cary Kennedy? – promoted by Colorado Pols)

Just sayin’…

From veteran political reporter Ed Sealover at the Denver Business Journal:

The audit that has set off a conversation about whether Colorado Treasurer Walker Stapleton should invest in foreign currency also had high praise for Stapleton’s predecessor, Cary Kennedy.

During Kennedy’s four years as treasurer from 2007 through 2010, her office’s return on its investments met or exceeded every benchmark against which it was compared in a difficult market, wrote Buck Global Investment Advisors, which performed the audit for the state.

While investment returns were below national benchmarks during the first few quarters that Kennedy was in office, they exceeded them, sometimes by eight times the percentage of return, at the end of her term, the audit showed.

Cary Kennedy said no to risky investments.  The kind of investments that landed countless government funds across the country in hot water.

After receiving the audit, the one-time real estate company executive was complimentary of his predecessor and the state’s investment officers, who he inherited in his administration.

“It’s a reflection of the admirable job that the staff of the treasurer’s office has done, which includes her,” Stapleton said. “I give her credit for doing a good job and maintaining state investments in a volatile market.”

10 Community Comments, Facebook Comments

  1. Gray in Mountains says:

    When Stapleton was elected I aid what I still believe. He should simply continue her policies and then claim credit for wise investment. But, he is not that smart. Poor gene pool, shallow.

    • BlueCat says:

      The tragedy of Kennedy being replaced by Stapleton is not so much a matter of R vs D, left vs right, but the loss of someone who was doing a great job to someone obviously not nearly so smart or skilled. and who can’t be trusted to put what’s best for Colorado ahead of selfish and petty politics.  Voters really screwed up on this one.

      • WitnessProtectionForGeeks says:

        But stapleton is mailing it in (good) while gessler is riding the knife edge of a grand jury.

        • BlueCat says:

          in place of competent people who did a good job for everyone.  And this has happened all over the country.  And Wisconsin is ground zero for buyers remorse. Another special election D win in CA: Hahn. Yes, ArapG and ‘Tad, I know it’s California. Let’s see what happens in the first 6 recall elections in Wisconsin. The fake Dems Rs entered in the primary to waste time and create confusion are already done.    

      • nancycronk says:

        Our County Treasurer, Doug Milliken (D) had the best performing portfolio in the United States and Canada, and received an international award to that effect.… Then, voters voted him out, replacing him with someone who didn’t know a piggy bank from a duct-taped wallet.

        Democrats have failed to get out the message that many times, Dems are better at financially stewardship than their Republican opponents.  

        • BlueCat says:

          Milliken didn’t inspire a lot of enthusiasm in that election and it’s hard to attract volunteers for the lower billed positions in the best of times.  2010 certainly wasn’t that for Dems.  

      • DavidThi808 says:

        I would have voted for Dick Cheney in that position if he was getting the returns Kennedy did.

  2. ProgressiveCowgirl says:

    Looks like Hancock has snapped her up as Denver’s new CFO. Best decision he’s made since he started campaigning.

  3. brobev24 says:

    thanks for submitting this article.

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