OK, so many people reading the headline might think that this post is going to be a snarky post about Delaware’s Race-to-the-top money & program. Nope. It’s a post about the Markell/Flowers mutual non-admiration society. What could be funnier than a couple of liberal democrats accusing each other of being risky with taxpayer money? Each fighting over who is the worst spending Democrat…
From the News Journal:
[Markell] Administration officials are now publicly questioning Flowers’ choices as the state’s top cash manager. Markell’s office cautioned Flowers against chasing “big returns” on taxpayer investments after hiring a financial consultant to monitor the portfolio. And one Markell insider recently accused Flowers of “holding a gun to the head” of state officials after he threatened to hold up a bond sale to fund a controversial Newark Charter School expansion plan. Flowers hasn’t backed down, accusing Markell’s team of “Nixon-style smear tactics” and lobbing criticisms of his own, including questioning Markell’s shaky $20 million investment in electric carmaker Fisker Automotive.
Now, we know that the MainStreamMedia doesn’t like “gun” rhetoric when it comes from Conservatives, but evidently, Liberals can use the term… liberally. And, of course, there’s nothing better than one Democrat accusing another of being like Richard Nixon. I couldn’t make this stuff up.
The Treasurer and the former Treasurer clearly have a problem getting along. The current Treasurer wanted a bigger office and so the Democrats kicked out the Delaware Commission on Women from their office space to give it to the current Treasurer (and note that while he’s kicking out the Commission on Women, the Democrats are trying to kick out their only statewide female officeholder, Insurance Commissioner Karen Weldin Stewart by endorsing a male candidate – and who has the problem with women???).
So, while the Governor has spent tens of millions of taxpayer dollars on failed investments in Fisker Automotive and economy-strangling above market power rates, the Treasurer has opted for “constantly tracks[ing] movements in the state’s investment portfolio on a Bloomberg financial portal. He had them installed last year, and access costs almost $40,000 annually”, and “announc[ing] a three-year deal to pay financial firm Credit Suisse $350,000 annually to serve as his consultant on the portfolio, including evaluating performance, and searching for ways to boost yield in an “under-performing” portfolio”.
It is a tough call. Who is the worst big government spender in Delaware? The Governor or the Treasurer. I can see why they are fighting. It’s a title that they both covet.