NEW: Riley Considers Run for Rhode Island General Treasurer

GoLocalProv Political Team

NEW: Riley Considers Run for Rhode Island General Treasurer

Michael Riley Considers Run for Rhode Island General Treasurer
Former Congressional candidate Michael Riley announced Friday he is considering a run for Rhode Island General Treasurer in 2018.

Republican Riley, who had challenged Jim Langevin in 2012, is now potentially eying the seat held by Democrat Seth Magaziner. 

Riley issued the following statement on Friday on Facebook:

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I am considering a run for State Treasurer against Seth Magaziner. I have a few days to decide. There is no question in my mind I can do a much better job managing the pension system. I can save roughly $50 million dollars a year in lower fees. I can also almost completely eliminate Wall Street management fees, No JPM, no Bank America, No State Street or Wells Fargo. I am not and have never been Wall Streets' friend. I am a disrupter. Rhode Island can do so much better in protecting retirees and the promises made by politicians. 

We owe it to them and all taxpayers to make sure we don't lose this money through incompetence. We also need to remove politics from the office of Treasurer in Rhode Island. I am not on any agenda.

As an example: There is no reason, other than quid pro quo, for the current Treasurer to have 140 different Wall Street managers getting fees from our taxpayers and retirees.

I have 40+ years experience managing money. I have been managing a Hedge Fund for 12 years. It was formed here in Rhode Island and have had double-digit compounded annual returns. I will roll up my sleeves and work diligently as the people's Treasurer. I will fight against moral obligation financing like 38 studios and the Paw Sox stadium. My record on issues is fairly clear. I have no intention of having a political career. I would be sacrificing a lot to fix this Treasury. I have the desire to reduce costs and simplify and I have the skill set. Four years from now if am elected I will leave and do something else. I will not spend my own money on this campaign. I will not ask you to spend money. The only thing I need right now is to know if people are satisfied with the Status Quo and Seth Magaziner.

Please reply to me with a response or a thumbs up. I am not going to hire a pollster. I know I am a huge underdog. But the people deserve an alternative to Seth Magaziner.

If you care about my candidacy pass the word and encourage a response from others. This is my test of whether I should run.

Riley is a regular contributing GoLocalProv MINDSETTER™ 
 


GoLocal Statewide Poll - Conducted by Harvard's Della Volpe - June, 2018

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