An Important Office That Deserves More Than A Career Politician
The Colorado State Treasurer manages an investment portfolio of roughly $7 billion and also has a seat on the boards of a number of important organizations and state agencies including the Public Employees Retirement Association (PERA) and The University of Colorado Investment Advisory Board. Most importantly, the Treasurer is the voice of fiscal reason to the state agencies, elected officials and the voters.
I realize the Treasurer’s role often gets overlooked, but I believe that at a time when our State faces so many fiscal challenges including fixing PERA, TABOR and Gallagher, we need a strong Treasurer with in-depth expertise and a proven track record to help solve these problems. We would not elect an Attorney General without a law degree and a legal background, and we shouldn’t elect a Treasurer without a finance background.
I have the passion, ideas and qualifications to bring real change to this office.
- For the last 7 years I have built a finance consulting business where I use my skills and background to help companies improve their cash flow and profitability. In addition, I also own a math tutoring business that I started 7 years ago with my own money.
- I started my career as an economist, and have also served in executive leadership roles in both large and small companies.
- I have an undergraduate education in economics and a graduate degree in management and finance from MIT.
- I do not take any corporate or special interest money, and, therefore, will not be influenced by PACs or companies like Wells Fargo and ConocoPhillips that have donated to many members of our State Legislature. We've been able to run a very effective campaign with the support of a number of prominent grassroots organizations and over 500 volunteers including my Mom.
As Treasurer, I want to move away from the status quo starting with the following things:
- Above all, I will keep our money safe and secure. I also will move our money out of Wells Fargo and into a State based bank or credit union.
- As a recent news article pointed out, PERA has been paying hundreds of millions to Wall St. in fees for sub-par investments. My Mom and my fiancé are both PERA members. With a seat on the PERA Board, I will preserve and protect it, and work to make sure its investments are more closely scrutinized and free from conflicts of interest.
- Working with our Legislature, I plan to create a State Public Bank for Colorado. North Dakota has had a Public Bank for nearly 100 years. Countries like Germany and China have had them for decades. A Public Bank would put our money to work for us, not Wall Street and could return more than $50 million per year to the Treasury. We can direct money into lowering student loan costs, affordable housing and infrastructure and business loans in both urban and rural parts of the state.
- I volunteered for ColoradoCare in 2016 because I believed then as I do now that health care is a human right and we must find a solution that covers everyone. To do this we need a well-qualified Treasurer who will make the financial case to voters that universal health care is not only the right thing to do, it is the fiscally responsible thing to do.
I hope to earn your vote in the Primary. Please feel free to contact me directly at Bernard.Douthit@gmail.com if you have any questions or issues you’d like to discuss. One last thing, my last name gets mispronounced a lot, it is pronounced dow'thit.
I hope we can work together to create a better tomorrow.
Candidate for State Treasurer
Most everyone, including my opponent, thinks this race will be very close. Please donate if you can, $1, $3, $5, and if you can spare the time, we also need volunteers. Thank you for your help with this grassroots effort.