Amendment E isn't harmless

Amendment E is presented as essentially harmless.

Don't you believe it!

Currently, state agencies can't buy stock in startup companies, except where the startup is a spin-off from higher education research. This law prevents leaders from paying off their friends with state money; the small exception ties directly to research our universities already fund. With Amendment E, the state wants the School Trust to be able to invest in brand new startups. There is no restriction other than the vague "prudent investor" standard, and remember what happened to "prudent investors" the past few months. Worse, the treasurer manages these investments. We've just had a scandal in that office. Just imagine what we're in for if future treasurers have the power to invest School Trust funds in a relative's "sure thing" new business?

Our ancestors were wise to restrict the state's investment powers. Vote "no" on state constitutional Amendment E.

Steve Setzer

Springville