Treasurer

• As the state's banker, manages the state's investments.
• Administers the sale of state bonds and notes, and is the investment officer for most state funds.
• Serves or chairs on several commissions, most of which are related to the marketing of bonds.
• Pays out state funds when spent by the Controller and other state agencies.

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I'm an author, attorney, president of the Public Banking Institute, and a candidate with a proven plan to restore California to solvency and prosperity. Abundance through publicly-owned banks has been demonstrated globally for centuries. North Dakota, the only U.S. state with its own bank, has the least state debt and the nation's fewest foreclosures and unemployed. As treasurer, I would work to revive California's public banking bill passed by both houses in 2011. A publicly-owned bank could cut state financing costs by 30%+, reclaiming huge sums now paid in interest for job-producing infrastructure projects and public services. It's time to break free from the Wall Street casino and create our own bank—with profits to the people! See www.publicbanksolution.com.

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State Controller John Chiang has been California's independent watchdog safeguarding our tax dollars. As our next State Treasurer, John Chiang will continue his work to make government spending more transparent and accountable. John Chiang has saved state taxpayers billions of dollars by weeding out waste, fraud, and abuse. John Chiang used his auditing authority to identify nearly $7 billion in taxpayer dollars that were being wasted or mismanaged. After the scandals in the City of Bell, John Chiang placed salaries online, to help residents identify abuses. John Chiang has returned $2.7 billion in cash and $181 million shares of stock to millions of residents owed money by banks and corporations. John Chiang initiated audits on 40 life insurance companies and is leading the charge to end the industry-wide practice of failing to pay death benefits to policy holders and beneficiaries. His settlement with 18 insurance companies requires that they return $267 million in unpaid benefits to Californians and $2.4 billion nationwide. John Chiang is a leader on pension and ethics reform. He rooted out pension spiking and is working to solve the state's looming crisis with unfunded medical expenses for state retirees. John Chiang's office provides free tax assistance to seniors and working families, saving them millions in tax refunds and credits. He hosts free seminars to help small businesses and non-profits navigate complex tax regulations. John Chiang has been our champion in state government. Keep John Chiang fighting for us, as California's next State Treasurer. www.electjohnchiang.com.

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