Posted by The PACT issue continues to be tossed back and forth like a hot potato between the two candidates for Lt. Governor. Each wants the other to get stuck holding the blame for the program’s financial woes.
Here is the latest ad from the Democratic incumbent, Jim Folsom.
Folsom faces Republican state Treasurer Kay Ivey.
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I’m glad this rebuttal ad is out to realistically address Kay’s screw up. It was her responsibility and she tried to pass the blame off. That’s immature behavior. I remember getting spanked for that kind of stuff. This should not even be an issue. It was Kay’s ball and she dropped it. I also like that Jim’s ad actually has real quotes as well.
So apparently the Lt Governor has resorted to the very mature tactic of name calling. Way to class up the political season Mr. Folsom.
Oh, also; he is using a quote form The Anniston “Red” Star. Not exactly a bastion of conservative journalism.
It his last commercial, just copying Ivey’s video and changing quotes around. Ivey’s ad is still up, probably until Tuesday. I cannot see how rearranging his deck chairs is very effective. Ivey seems willing to fight this battle out. But is Folsom just trying to run the clock out on her and count on name ID?
Also, read the whole quote from Anniston Star. Says Ivey is not to blame, but probably cannot get elected. Folsom took out of context.
JIM LISTEN TO ME!!! PECK FOX LISTEN TO ME. Don’t do this negative stuff. It turns people off. Our poll numbers aren’t that bad, are they? Be an example and show case Jim’s accompishments. Get the Mercedes ad up and forget offending Gov. Riley. Jim you have a record!!! Run on it!
Can’t Kay Ivey be indicted for fiduciary malfeasance?
Folsom created a program that has sent thousands of AL kids to college and was working just fine until Ivey was placed in charge. Why was she still encouraging more folks to join the program a little over a month before she let people know that it was failing?
That would be a great question for either of the AG candidates or atleast jostle them out of their “Is too Is not” campaign mode.
Loyal-
If you want to talk about taking things out of context, look at Ivey’s PACT ad. Both articles she cites are misstated – and then she pulls from her website the press statement she put out praising the passage of the PACT legislation by the Legislature so that she can criticize it in her ad. That is truly upstanding leadership to be proud of!
This is hardly name calling. It’s simply reiterating the fact that Kay mismanaged the PACT fund. And why not? It is both true and important. Also, she hasn’t figured out a way to defend herself against it. I say don’t let up on the PACT issue.
If Kay can’t defend herself or misdirect more successfully, she’s dead in the water. But I would venture to say she already is.
Still lawsuits over the whole mess out there, and Folsom fans, I can tell you one thing — Little Jim Folsom is a defendant in every lawsuit Kay is named in. He was on the board wit her, and has just as much responsibilty for every action in the courts eyes.
And the final fact is (and I hate to keep agreeing with Folsom4ever), this is not a top shelf issue. Polling does not support even talking about this. Ivey, get out of this quicksand before you sink with Jim.
I find it interesting that all the Ivey loyalists are crowing about PACT not being an issue while feigning concern that the race is not being fought along the most productive lines. Last time I checked, Jim had a pretty good record of electoral success and winning against much steeper odds than those presented by Ivey.
BillT – Folsom was beaten by probably the weakest candidate possible, Fob James. And guess what, he had all the support lined up then that he does now. BCA, APC, AEA, etc. Still did not help in a nationalized election. Folsom is the Bradley Byrne of the Dem Party.
Bill, just ask Bradley Byrne where The BCA endorsement got him…
Loyal, until Bob Riley came along, BCA polcy was to not endorse in the Governor’s race, so Folsom did nt have their support in 94. Sorry to upset your incorrect logic.
Being a voter in Alabama is like babysitting a bunch of 2nd graders.
“He hit me.” “He hit me FIRST!” “She messed up the prepaid affordable college tuition program.”
“Nanny nanny boo boo, you are an atheist!”
Then Robert Bentley comes sliding down the banister wearing his underwear over his pants and a bath towel around his neck like a cape. “Dat-tada! Super Doctor!”
I find it ironic that Folsom’s ads claim to save the Pact that Ivey allowed to drown (in this economy who could have predicted). Ivey is a career politician and so is Folsom. I wish we had other candidates. Bentley is aged and the Lt. Gov. is, after all, the person who would be governor. Folsom has done it once already. Ivey is a joke.
I agree with most people on here posting. I also lack a taste for mud slinging. However in these strange times they seem to have become a political necessity. And in this election particularly, I find them absolutely useless simply because Kay Ivey is so blatantly unqualified. I think that everyone can agree that the PACT was her responsibility. Times are rough and no one is blaming her for the coincidental failure of the PACT. No It was her carelessness to save it which is on trial here. People are understanding of happenings but never of lack of action. S%&T HAPPENS!!! but we the people expect our civil servants to do their best to help us out in even the hardest of times to the best of their ability, not ignore an issue and hope for it to disappear. Kay Ivey… You’re disgusting, confused, and terribly unfit to preside over our Senate. Jim Folsom Thank you for letting me complete my college education. We need you.
YungDem,
I see it a little differently. I’ll concede that Ivey can seem pretty eccentric. And I’m a lot less excited about a candidate who went after Lt governor once she realized she couldn’t win governor… and literally bought stickers that said “Lt.” to stick on her preexisting signs.
But, I’m looking at the accusations and the information out there. And this is what I get. #1 Alabama was an early adopter in the 529, state overseen, prepaid college plans. #2 Folsom had a big hand in getting Alabama to do it. He is, after all, a full time investment banker and part time LtG. #3 Since PACTs inception, the cost of education has gone up because the federal government pulled funding. Meanwhile, investments have lost value. The combinations meaning something like PACT is going to get slammed. #4 In no universe should any government entity act as an investments advisor with discretion to individuals, much less hordes of parents who can’t afford to lose the money. (Exibit A: Social Security)
I think neither party is without blame. But, doggone it, PACT should not have existed in the first place. The federal government should have given parents the ability to invest with a proper tax benefit(401K-ish), using real financial advisors, who can respond to each family’s needs based on how much they can invest and what their expectations are. That’s what should have happened. But, instead, we got PACT.
I am much more concerned with things like Folsom’s full time job. Anyone else, working in his position, would be banned from any political activity beyond contributing less than $250.01 to a candidate. That includes everything from fundraising down to sending a friend an email saying “Gee I like Roger Bedford.” But, Folsom gets to be Lt Governor and an investment banker. This allows him to use political influence on things like municipal bond issues, which he does- either credited or covertly. And that’s sooooooo wrong. We don’t need that. Maybe Ivey isn’t the very best for LtG. But she’s way better than the graft that is going on right now.
YungDem:
PACT was all of their responsibilities. PACT was Folsom’s especially since he lays claim to creating it.
Folsom probably has a conflict of interest being an investment banker AND considering the way PACT was run. I’m sure if you do the research you may find some overlapping connections there.
Folsom is far from innocent.
You should probably thank Folsom and Milton McGregor for allowing you to finish school. (2 peas in a pod)
Landingham – I did not say endorsement from BCA, I said support from BCA. And it was there — ask anyone around in 1994.
If Kay Ivey tries to win this campaign on the PACT issue, she should save her personal riches and go home now. If you want to know who the good guys are in this fight, just ask the PACT parents. They were the ones who Kay left hanging by a thread when Folsom and leaders of both parties, including Governor Riley, saved the program.
Is it true Folsom is a investment banker? I always thought he looked on the time the legislature is out as vacation time.
Folsom used to sell bonds for jail bird Bill Blount. Investment Banker may be over rating/stating his status.
At least this ad is something different, I’m tired of all the ads that you could insert any candidate’s name in to and it would work.
“I’m going to create jobs, clean up Montgomery, cut taxes.. blah blah blah…. People start tuning that out after a while because it means nothing if everyone says it
Good ad…
Folsom works for Raymond James & Associates and has for over ten years. His title, according to filings with the Ethics Commission, is Director of Public Finance.
Judging by all the comments on this, it’s safe to say Kay got rid of Brent Buchanan.
So let me get this straight. You guys/girls are saying it’s better to have a proven incompetent over privileged millionaire / political hobbyist who inherited most of her money and is now squandering it in her own campaign on account of her inability to raise funds over a proven successful business man????? What kind of logic is that? you’re saying that since Jim Folsom is capable, he’s incapable. Kay’s incompetence is proven. all your dirty accusations are completely unproven. In fact Republicans have been trying to pin things on Folsom for over 15 years to no avail. There is one thing you can be assured of in this state if you are a Democrat and you are even almost guilty, you will be put in jail. No exceptions. Jim’s ability to work with everyone legally and positively including everybody down the line from Riley to McGregor is a great example for everyone in the state holding office. and no PACT was not Folsom’s responsibility. You are wrong. Just as every road with the Folsom name on it is not still Big Jim’s responsibility. The PACT will remain Jim’s creation and gift to the children of our state and it will remain the responsibility of the State Treasurer for as long as it exists.
Yung,
I’m not going to argue with you that Ivey doesn’t seem goofy to me. And I think it’s sad to see acres of pine being sold to fund a run at “Vice President of Alabama.” But she does have a lot more character than Folsom does.
When it comes to proving Folsom’s corruption, it is implied in his job title in the private sector. And I know people who have seen him ride up to city halls and county commissions, in a chauffeured Town Car with government plates, to do work either for Bill Blount or Raymond James. He is reported to be with Blount during the Jefferson County Sewer fiasco’s beginnings. So, he is obviously using his governmental influence to make deals that don’t always have the taxpayers’ best interests at heart. The graft stops Nov. 2nd.
With regards to the claim that he is better qualified for the job and that no one can broker legislation like he has in Montgomery… Well you have to look at the legislation being brokered. I mean, sheesh! This is some crappy legislation. Was he behind the green curtain, winning hearts and minds during Bingogate?
Do you think Ivey has enough horsepower to toss something like this out in public? Could be dangerous.
Kay Ivey has repeatedly shown an inability to manage state funds. How can we trust her to manage an executive office?
Bama Vet, I an not even going to try to rebut the misrepresentations and factual inaccuracies (at least four blatant ones) – the Republicans and the Ivey campaign have made a routine of such attacks, and the polling I have seen as recently as today show that there is a good reason Ivey is desperate and trying to catch up with false attacks.
Independent,
That’s a good question. I don’t think so. I mean the chance was there, and their campaign played PACTusation ping pong instead of going with the red meat.
Yung,
PACT was Folsom’s creation and gift to the people of the state the same way ARM mortgages were George Bush and Barney Frank’s lovely gift to America. It is an unsustainable model.
The idea was, and the way it was designed by the people who made it, the stock market will keep marching upwards over time moving forward. And this is true. Look at the Dow, and it just keeps going up. Well, you also have downticks. And we had a huge downtick after about a decade of the cost of education outpacing inflation. Result=bad. What would you have Ivey do, take all the money out of the market at the very top. Well, there are people on Wall Street who couldn’t even time this one right.
<a href="” title=”">The state’s top investment managers, who are not involved in managing PACT funds but oversaw a study into its investments, said there was no gross mismanagement.
the link: http://www.timesdaily.com/article/20100214/ARTICLES/2145044?Title=Experts-PACT-not-mismanaged
I am confused.
Is Kay Ivey blaming the failure of the PACT program on Folsom who was one of how many Board Members for the past 4 years when she was the State Treasurer and the head of the Board and responsible for it?
Also, she said the legislation to stabilize the fund was great and now it’s a “Washington bailout”?
So, it wasn’t her fault and she was for the pact legislation before she was against it?
I don’t think Ivey is trying to shake it off, rather just make Jim “Its a Bunch of Lies about my Corruption” Folsom take some responsibility.
So why did she delete her press statement praising the legislation from her website if she isn’t trying to shake it off? Seems like a pattern of behavior to me, someone who wouldn’t release minutes of Board meetings, someone who wouldn’t follow Board directives, someone who doesn’t understand the powers of the office she is seeking. Kind of scary.
Well you will be rid of Ivey in a few months. I think she has been playing soft with these whiny PACT parents. Let’s see how they do with Boozer (becuase Charlie Boy ain’t got a chance).
I am sick of the fighting that goes on in our government. Everyone needs to do what they were elected to do. There should not be Democrats and Republicans because it has become a game to all of you. America is in trouble and it needs to be fixed. You are not concerned with our needs everyone just wants their party to win because it is the best. Does everyone even know what they are doing, I do not think so anymore. I love the United States of America and we need people in our Government that does to.