While parents come to grips with major investment losses in a college savings program, public records show that Illinois Treasurer Alexi Giannoulias’ office spent Bright Start proceeds to buy a $26,000 SUV he uses as his state car.
The purchase is surfacing as the politically ambitious Giannoulias continues to face criticism for his oversight of the Bright Start investment program, which lost $85 million last year.
The details aren’t as horrific as the lede makes them out to be. The car wasn’t paid for with Bright Start profits, but with a fee paid by the investment manager’s firm. Still, not good.
The treasurer’s office claims that staff also use the car…
But Burnham could not provide a breakdown of how often that particular Ford Escape is used for Bright Start-related purposes and said no log is kept of how that car is used or for what reasons.
Again. Not good.
* Meanwhile, Drudge linked to this video last week with an ominous headline about potential US Senate candidate Congresswoman Schakowsky claiming that the “public option” for health insurance would put private insurers out of business. See it for yourself…
* Related…
* ADDED: Vallas says County Board presidency decision weeks away: Vallas has been exploring a Republican run for the County Board presidency since February and had expected to make a decision in mid-June. But now, he said, he has sped up his timetable because “there are other people that are trying to make decisions about what they want to do next and they’re at least a couple of people waiting to see what I will do.”
* Jesse Jackson Jr Speaks About Ethics Probe: “One fact will never change, whatever the outcome…I offered the former governor nothing and the former governor offered me nothing,” Jackson said.
