Utah best managed state? Then fire these guys

Fire them all.

Utah officials crow often about awards recognizing the state as one of the best-managed government entities in the world. Well, with the smooth bonus deal pulled off by the guys who run the state school trust lands investment agency, it’s time to prove that “best managed” boasting.

The land men need to be shown the door, with pink slips. All of them. All the big-shot investment guru managers who received the double bonuses, despite a legislative mandate. And all the board members who approved the bonuses; they should be sent home to count their per diems.

It’s way past time someone did something about the ongoing thievery of investment sector and government bureaucracy people who loot the system and get away with it. Wall Street’s already back to its old tricks, which got us into this economic wilderness. The portfolio wizards are laughing on the way to their yachts with the same old huge bonuses. Some of the conglomerates the federal government bailed out to keep afloat are already getting away with sacks of bonus bucks. It’s like the economy never melted down and all they had to do was wait for the heat to subside. They knew the taxpayers would be trampeled as suckers and the politician enablers in Washington would let it happen.

So, supposedly Utah is different. That’s what the awards claim. We’re better managed than everyone else, see? OK, the trust manager ripoffs are a wonderful test. Will the outrageous double bonuses (and the sneaky, sleazy way they were slipped in) draw any meaningful action? Or will we hear a few rounds of legislator outrage and official excuses and the caper be brushed off?

Gov. Gary Herbert and the Legislature should clean house on this one. Get rid of them all. And don’t tell us these bonused geniuses cannot be replaced.

Unfortunately, the trust lands agency is one of those quasi-government outfits layered with vague bureaucratic charter and governance. So, realistically, my rant for a firing spree probably is no more than wishful thinking. Greed will win, again.

However, the lands bunch might want to update the page on their Web site that explains “Who gets the money?”

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One Response to Utah best managed state? Then fire these guys

  1. Doug Gibson says:

    There must have been a time in the financial management industry when “only” earning your salary meant something.

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