Thursday, October 26, 2006

BLADE: CORDRAY CAN BEGIN REPAIRING COINGATE

Columbus -- ”A better candidate could not have emerged for state treasurer at this point in Ohio’s history,” the Toledo Blade said today in its editorial endorsement of Franklin County Treasurer Richard Cordray.

“Mr. Cordray vows to undertake perhaps the most important change in state government we can imagine: aggressive oversight of the state’s investments in the wake of the Coingate scandal. The latter can hardly be overemphasized, considering the state’s $11 billion investment portfolio and the painful memories of the Bureau of Workers’ Compensation fiasco. He plans to eliminate hedge fund investments, and pledges that not one taxpayer nickel will be invested in rare nickel,” the editorial stated.

“The Toledo Blade broke the coingate story and has followed and documented the scandal for 18 months,” Cordray said, noting that Blade was a Pulitzer Prize finalist for their reporting. “Their assessment of the responsibility of the state treasurer for investment oversight is well-grounded, and I value their endorsement.”

The Blade credited Cordray’s record as Franklin County Treasurer, including the work his office has done to help bring the level of citiizens current with their taxes to 98 percent.

As for his opponent, whose perfomance was criticized by Ohio Auditor Betty Montgomery in a 2003 state audit, the difference in credentials between candidates is so lopsided “that if this were a boxing match, they’d stop it,” the editorial said.

“Richard Cordray is so much better qualified than his opponent, he deserves to be one of the biggest vote-getters in the Nov. 7 election.”

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