Vote, Tuesday, Sept. 14
Vote, Tuesday, Sept. 14
Economic matters have become extremely complex. Americans accepted this state of affairs as long as they were confident that those in charge knew what they were doing. However, with the collapse of Wall Street giants and federal bailouts needed for major banks and the auto industry, people are angry and scared for their future security.
In past elections, voters did not give much attention to the state financial posts — treasurer and auditor. Now with state finances imperiled by a slow recovery from the recession, it has become urgent to elect the most competent and trustworthy to manage public funds advantageously and oversee state expenditures with unfailing fidelity.
The decisions are easy in this election. There is only one candidate for each post who meets those basic qualifications. The Banner endorses Steve Grossman for treasurer and Suzanne Bump for auditor.
Steve Grossman — Treasurer
Steve Grossman has made his living as a successful small businessman. Over the years he has set a very high standard for what it means to be a good corporate citizen. Not only has he established company policies to benefit his employees, but Grossman has also given much of his time as a volunteer to benefit the general public.
His choice of public causes offers some insight into what he would do as treasurer. He has been actively involved with the Initiative for a Competitive Inner City (ICIC) and the Initiative for a New Economy. The objective of these organizations is to develop minority entrepreneurship. As treasurer he would undoubtedly pursue these interests.
Banks compete for deposits from the state. Grossman would choose those banks that loan to small businesses and help homeowners avoid foreclosures. Emerging minority-owned fund managers would have an opportunity to invest the state’s funds. He could use state funds to invest with venture capitalists that will launch minority firms.
As a businessman, Grossman already has the knowledge and experience to launch these programs the day he is sworn into office. Others competing for the post will need an extended period of on-the-job training.
Support for Steve Grossman as treasurer is not even a close call.
Suzanne Bump — Auditor
The major qualification for auditor is unchallenged probity. Suzanne Bump’s opponent, Guy Glodis, has not lifted a disturbing cloud of impropriety. Ten days before the election for sheriff of Worcester County on Sept. 14, 2004, he borrowed $20,000 from a friend. He immediately loaned his campaign $22,000. It is unlawful for candidates to accept personal loans from individuals for more than $500.
Bump should win by default, but there is much more to recommend her. An attorney, Bump has served as state representative and as state secretary of Labor and Workforce Development in Gov. Deval Patrick’s administration. Her objective is simply to assure that state funds are honestly spent and to determine whether programs perform as expected.
In this election, voters are advised to give more attention to state treasurer and auditor, the constitutional officers who are the guardians of public funds.