I have followed the recent discussion of financial affairs in the State of Idaho’s Treasurer’s office with interest.
First of all, this is not the state’s money. It is our money. It belongs to every single Idaho taxpayer. It may be needed for our highways or schools and isn’t it possible that it could be needed at any time? The 2008-2009 crisis proved that. If that is true, then why is this money invested in risky assets (mortgage-backed securities in this case) instead of something a bit safer and whose market value is more predictable?
I know that the assets don’t have to be liquidated now, but what if those assets were needed right away?
It seems to me that management of the taxpayers’ money by the state treasurer is a much different affair than management of PERSI assets.
Dave Churchill, Boisex