As we predicted yesterday morning, the growing feud between Gov. Chafee and Treasurer Gina Raimondo was indeed Wednesday’s narrative – and after Raimondo stoked the fire by disparaging the governor on the Dan Yorke Show, Chafee fired back later in day.
“She’s free to be critical but she better be factually accurate,” Chafee said at a late afternoon press conference. “On this one she isn’t.”
Raimondo told Yorke that Chafee should have done a better job overseeing the loan made to 38 Studios. “How has the Governor and his staff in his capacity as chair of the EDC board been monitoring this investment? These problems to the extent they exist with this company have been simmering for a number of months and I think at some point tax payers deserve accountability.”
Chafee disagrees with her assessment of the situation.
“This is a really something that occurred in the last few weeks,” he said at the press conference. “I asked industry experts that question: could we have done more and they said no no one at EDC is qualified to say whether a game is going to be successful or not to get involved in the creative aspect of a game.”
The governor went on to say that Raimondo’s energy could be more useful if applied to municipal pension reform.
“I’d really appreciate her help on help with some of these cities and towns issues especially on pensions,” he said. “It’s in her bailiwick.”
It’s still unclear why Raimondo hasn’t helped more with municipal pension reform, but several mayors feel betrayed by her because they have said she promised to help them with their pension reform efforts if they helped her with state pension reform.
It’s also unclear how she knows that 38 Studios has been “simmering for a number of months” as she was very selective in which reporters she would speak with. She went on WPRO and did a sit down with WPRI. But, through a spokesperson, told five journalists waiting outside her office that she didn’t have time to speak with them.
It’s also unclear why she has inserted herself into the 38 Studios debacle. Ted Nesi reports: “Asked last Monday whether Raimondo’s office knew anything about what was happening with the 38 Studios deal, her spokeswoman emphasized that it was an EDC situation and that the treasurer had no involvement.”
What did you expect?
Raimondo is a powerful combination of greed, Wall Street, and a certain kind of ethnic/religious “conservatism.”
You want in on our thing? Tow the line. Circle the wagons.
In a perverse way, it makes sense that a so-called venture capitalist now runs the pension funds for public employees. They have the money, the power, and the connections that count.
When a retired teacher shows up at their offices, he has the privilege of standing at a glass partition and looking in on what appears to be a “boiler room.” Lots of computers and phones–and the teacher can stand outside this action for as long as he or she likes!!
If, by some chance, Gina’s aggressive market behavior, all done in the service of altruism, fails, well, they were only public employees, anyway. Let the shock jocks have a few laughs.
Note to Chafee: Start getting ahead of the issues. Start demanding new oversight over Gina and OUR pension fund. Everything I read tells me that little has changed since 2008.
Governor: Demand that those who have paid into these funds for decades be given enhanced teacher-driven or public employee driven oversight regarding their own money investments.
It’s a principled way to be relevant. The group of nine should be shaken up. Get some bright working people in there and throw out a few Little Compton “consultants.”
Raimondo is a powerful combination of greed, Wall Street, and a certain kind of ethnic/religious “conservatism.”
This is an exceptionally truthful description of Raimondo, thanks!!
IF there is a “feud” between the Governor and the Treasurer because of possible future political campaigns, that is very disappointing as I had hoped these 2 with similar attitudes would put RI first. They need to be together to push through needed changes on muni pensions (without the punative attitude of the former administration,) to reform EDC so this debacle doesn’t happen again, and in general to promote Rhode Island as a team.
Agreed! At a national conference I recently attended, fellow members where quick (and sympathetic) to respond to my RI badge with consensus of a bad business climate and municipal bankruptcies, actual or rumored. I, of course, responded with enthusiasm for RI’s recent turn of leadership, and confidence that prosperity is just a matter of time. Now this. I am as concerned with the Chafee-Raimondo distraction from the hard work of solving the problem as I am with the problem, 38 studios, EDC, pension reform. RI needs all the talent we have, and can’t afford to compete with itself, as it were.
Unfortunately Raimondo’s talent is being used to protect the monied interests at the expense of the other 99% of us.
I like your writing about how politicians will talk to some media but not to others — gives a realistic picture of how the game is played.
“It’s still unclear why Raimondo hasn’t helped more with municipal pension reform, but several mayors feel betrayed by her because they have said she promised to help them with their pension reform efforts if they helped her with state pension reform.”
I think she’s made it pretty clear that she’s unwilling to take on the multitude of individual bargaining agreements across the state and the litigation that it would bring. I have little sympathy for the locals who want the state to do their dirty work especially when they are mostly responsible for their own pension demise. As for 38 Studios, it’s all politics.
I love how Gina’s true colors are finally showing through. She’s nothing but an entitled, petulant, millionaire banker. And she’ll do anything to take money from the middle class and funnel it to her country club friends.
It’s not enough that she’s a money-grubbing Wall Street girl. She also came out against tax equity. Why? Because she only cares about other millionaires like herself.
Perhaps the left should take a cue from the Tea Party and flush a few DINOs like her out of the system.
Actually, a Chaffee, Raimondo, Almonte three way in a Democratic primary would be kind of fun. Three fiscal conservative flat-taxers want to be the Democratic nominee for governor. If you’re progressive, you may as well write in Steve Forbes.
Can’t Democrats do better in this state?
You communists got to be kidding!
Our state has SUFFERED FROM 75 YEARS OF democRAT rule. How are we doing? Since you don’t read anything that challenges your myopic view of the world, I’ll volunteer…
Our governor is inexperienced in economics, tone deaf to the needs of the people in a capitalist system, and our legislature is bullied and self-serving. (Say what you will, capitalism has raised more people from poverty than any other system. The way that’s done is with JOBS.)
Raimondo has real-world experience and you can’t deny it.
What is it with you liberals? You hate capitalism? Granted, no system is perfect and abuses happen. And ultimately get corrected. But you all are such HATERS. You try to destroy people who disagree with you. Ironically, you only destroy yourselves.
You spread rumors, twist facts, spread lies. What is with you all? Facts mean nothing-and you all repeat them to one another!
Wake up. Like it or not, the business-of-America-is-business. All else flows from that simple reality.
YOUR democRAT Party has been corrupted by Big Labor and special interests. These folks can’t create jobs. They don’t know how. Jobs happen when entrepreneurs (people you hate) interact with investors (yet another group you hate) and take calculated risks (a behavior you hate-unless it’s the social kind). Ever get a job from a poor person? Be honest. (If that’s possible in this echo chamber).
You democRATS have driven jobs, and those who create them, out of the state. Union thugs like George Nee bully candidates who dare oppose them with intimidation and threats (google/read: “The Union Stewards Prayer”-they use the word “threaten”). Ask any Republican candidate-they’ll enlighten you.
You democRATS trade on fear and intimidation. You’re the first to raise your voices in any political debate: shout-down, talk over, belittle and act childishly. The first to lie, cheat, and steal elections. You hate everything that made our country what it is. Fallacies are at the heart of your arguments. It’s gotten our state to where it is today> bankrupt and shrinking.
Shame on you liberals.
Alright Jon Brien, er I mean Dogboy, you made your point and we all know how you feel; good for you. And it’s called “Crony Capitalism” and yes it does create enormous wealth and Raimondo, G. Gordon Fox, Carcieri, T-Weed, George Nee and Al B. are all very good at it, and you are not.
LOL Bill. Thanks for feeding into Dogboy’s stereotyping.