Vail Valley’s Hasan considers run for state treasurer
Vail, CO Colorado
VAIL VALLEY, Colorado ” Vail Valley resident Ali Hasan may run for state treasurer in 2010.
The Beaver Creek Republican said he plans to meet with members of his party over the next several months to gauge support for his candidacy.
“I want my party behind me,” Hasan said. “This isn’t out of desperation, I want to help my state and my party.”
Hasan lost his bid for the state House District 56 seat in November to Democrat Christine Scanlan, despite getting more votes from Eagle County residents. Scanlan won both Summit and Lake Counties.
Hasan said he would bring crossover appeal to the race and could do a better job managing the state’s investments. He would also campaign on the idea of bringing a monorail to both the Interstate 70 and Interstate 25 corridors, he said.
“If I run, I will put together a fiscal plan to demonstrate that we can build these with no tax increase or a small one,” he said. “The technology is there, the only thing stopping it is the fiscal plan and that’ll be up to the treasurer.”
If the residents of Colorado were presented with a good financial plan to build a monorail, it would pass a statewide vote, Hasan said.
“I would put the best plan together,” he said.
Hasan criticized the way the state’s investments have been handled and said he would “re-architect” the way state treasury is looked at.
There are two major responsibilities of the treasurer: Making recommendations on fiscal policy and taking the state’s endowment fund and investing it on a yearly basis, Hasan said.
“Right now, according to the treasurer’s office, our goal is four percent,” he said. “I think we can get eight percent ” it’s way too low.”
Hasan said he would model the state’s investments after the endowments of Harvard, Yale and Stanford universities, and enlist the help of the people that manage those funds.
“We lost a ton of money in that investment account,” he said. “The reason is we’ve invested quite a bit of it in companies that needed to be bailed out.”
The state invested in companies such as Wachovia, Bank of America, Ford Motor Company, and Fannie Mae and Freddie Mac, Hasan said.
“If they hadn’t been bailed out (the stocks) would be worth nothing,” he said. “But a bailed out stock is worth less.”
Hasan set August as his target for making a decision on whether to run for state treasurer. Having the support of his party is one of the keys to his decision, he said.
Carol Onderdonk, co-chair of the Eagle County Democrats, said she thinks the state’s current treasurer Cary Kennedy is doing a wonderful job.
“I don’t know what his qualifications for state treasurer would be,” Onderdonk said. “I think Ali is a very personable young man and everybody is entitled to run.”
Staff Writer Chris Outcalt can be reached at 970-748-2931 or email@example.com.