http://www.coyoteblog.com/coyote_blog/2005/06/orange_county_m.html Dispatches from a Small Business Sun, 12 Feb 2012 09:39:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.coyoteblog.com/coyote_blog/2005/06/orange_county_m.html/comment-page-1#comment-1271 The Cat Sun, 05 Jun 2005 14:00:01 +0000 http://coyote-blog.com/wordpress/2005/06/orange_county_m.html#comment-1271 <p>I usually enjoy your discussions. But your conclusion that "What [elected officials] should do is sit down once a quarter and review portfolio investment performance and asset allocations." gives me tremendous pause. Your whole supposition is that the investment process (which should not be political), was corrupted by politics. To put the hens in charge of the fox den is nearly as bad as putting the foxes in charge of the henhouse - both houses get wiped out, one through cunning and the other through ignorance.<br /> If we truly believe that having public funds for taking care of private individuals is a valid government interest (I don't believe it is), then the person/entities chosen for that task must either be completely immune from political manipulation, or possessing perfect character and integrity. Both preclude an elected official.</p> I usually enjoy your discussions. But your conclusion that “What [elected officials] should do is sit down once a quarter and review portfolio investment performance and asset allocations.” gives me tremendous pause. Your whole supposition is that the investment process (which should not be political), was corrupted by politics. To put the hens in charge of the fox den is nearly as bad as putting the foxes in charge of the henhouse – both houses get wiped out, one through cunning and the other through ignorance.
If we truly believe that having public funds for taking care of private individuals is a valid government interest (I don’t believe it is), then the person/entities chosen for that task must either be completely immune from political manipulation, or possessing perfect character and integrity. Both preclude an elected official.

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