Sunday, June 12, 2005


Petro: I don't know who the BWC fiduciaries are

We missed this unbelievable nugget when we first read Laura Bischoff's story today:
Petro said he is not sure who are fiduciaries at the bureau or if the five voting members of the BWC Oversight Commission hold that legal responsibility.
Well, that seems to raise two fundamental questions:
Now, we know that most trustees of the state's pension systems know they are fiduciaries. We strongly suspect, however, the few have much of inkling of what that means.

But for the state's primo lawyer to suggest that the fiduciary duties at a major state agency are murky - this is revealing. Revealing, that is, about the operations at BWC and about the abilities of Jim Petro. If Bischoffs story is accurate, this admittance should cost him any consideration for governor.

Just when we think our jaws can't drop any more, this shit gets weirder and deeper.


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