Panhandle (W.Va.) Grassroots for Democracy

The Panhandle Grassroots for Democracy is working to improve our corner of eastern West Virginia, our state and our nation.

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Wednesday, June 15, 2005

Bond panel created

From the Charleston Gazette:
In hopes of convincing voters that selling $5.5 billion of pension bonds is not the “big gamble” that critics say, Gov. Joe Manchin Tuesday introduced a 10-member panel of “fiscal and financial experts” that will have to approve any bond issues.

“This is another safeguard for the people of West Virginia,” said one of the panelists, Charleston lawyer/lobbyist Tom Heywood. “It is a bipartisan committee made up of experts in their fields.”

The Pension Bond Financial Advisory Committee includes business people, lawyers, certified public accountants, and business professors from Marshall University and West Virginia University.

The panel doesn’t include Massey Energy Chairman Don Blankenship.

Blankenship, who is personally underwriting an advertising campaign opposing the bond referendum, turned down Manchin’s invitation to serve on the committee.

“I just wanted to harness that energy,” Manchin said of his personal invitation to Blankenship. “If he wants to help the state, I wanted to give him every opportunity I can.”

Blankenship didn't comment.

The bond issue shows Manchin and the Democrats acting responsibly about West Virginia's long-term financial obligations unlike the GOP-controlled Congress which is running up federal debt to saddle our children with.


At Monday, June 27, 2005 9:03:00 AM, Blogger John C. said...

The bond ammendment failed by from six to eight points so this represents a blow the Joe's agenda. Where do we go from here? How can a multi-millionaire coal barron like Blankenship decide the financial future of our state? This reminds me of the last election where "W" won big, it doesn't quite make sense to me.


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