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LWV League of Women Voters of Ohio
Ohio State Government November 7, 2006 Election
Smart Voter

Richard Cordray
Answers Questions

Candidate for
Treasurer of State; State of Ohio


The questions were prepared by the League of Women Voters of Ohio and asked of all candidates for this office.
Read the answers from all candidates (who have responded).

Questions & Answers

1. What additional safeguards will you put in place to protect public investments? What are your investment strategies that would safely maximize the rate of return? (150 word limit)

I would operate the State Treasury like the Franklin County Treasury, where we invest safely and prudently and maintain a AAA bond rating, the highest available. We instituted an investment ethics policy and strengthened internal controls, including cash handling and cash management improvements. Importantly, our investments are transparent: all information is made readily available to the public. We instituted new collateral requirements, obtaining specific collateral to protect our investments rather than less secure "pooled" collateral. And we have improved methods of electronic payment, making our processing more efficient and accurate. The same kinds of upgrades would benefit the State Treasury.

Our investment strategies include consistent yield curve analysis and mathematical modeling without trying to "guess" interest rate movements. We carefully review liquidity needs to maximize returns on investments of any duration. We also refinanced outstanding debt, taking advantage of lower interest rates to save millions of dollars for our taxpayers.

Responses to questions asked of each candidate are reproduced as submitted to the League.  Candidates' statements are presented as submitted. 150 Word limits apply for each question. Direct references to opponents are not permitted.

Read the answers from all candidates (who have responded).

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Created from information supplied by the candidate: October 7, 2006 10:24
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