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Former N.C. treasurer defends new job at firm

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Friday, November 13, 2009

(Updated 5:36 pm)

By
Associated Press

RALEIGH — Former North Carolina State Treasurer Richard Moore is defending his new job with an investment firm that began doing business with the pension fund he oversaw before he left office.

The State Treasurer's Office said Friday the fund committed last year to invest $500 million in San Diego-based Relational Investors. Moore left office in January and became a managing director at Relational Investors in April.

Moore told The Insider state government newsletter Thursday that he began to consider a job at the firm last spring. He said he received an informal ethics opinion that taking the job would not violate the law.

Firm founder Ralph Whitworth said the investment and Moore's job were unrelated.

The state's pension funds are valued at $65 billion.

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Panacea

November 13, 2009 - 4:05 pm EST

If Mr. Moore thought to ask for an opinion on the ethics of taking this job, then the answer that it is not should have been self evident.

Conscience: that little voice in your head that tells you someone is watching.

OneVoice

November 14, 2009 - 12:51 am EST

There are very few people in NC state government with any ethics. Witness the behavior of our former governor and his wife; setting her up in a job just before leaving office. And Jim Black's deal with Michael Decker to give Decker's son a job in exchange for cash in the men's room and Decker's vote to allow Black to be co-speaker when the Republicans won a majority in the House for the first time in forever. (That's why they call Republicans the stupid party; they could not even elect a speaker from their own party when they held the majority, albei a slim majority) Why the citizens of NC continue to elect such crooks is beyond me. Black actually won re-election with all of the above facts known! Most elected officials in Raleigh are just pigs feeding at the trough of public (our) money. Some hide it pretty well; others,like Moore, spit in the face of the taxpayers and defy them to do anything about it. It speaks volumes when members of their party speak in defense of the likes of Easley and Black and Moore. I held out no hope that intelligent voters would ever win another election until Bill Knight defeated Johnson; now I see a very faint glimmer of hope.