Chester and his ideas are full of BULL

Chester Culver, Dummycrat with bullhorn for Governor, has proposed investing a portion of the state's pension program money(IPERS) in venture capital for homegrown companies.

Mr. Culver is proud of his teaching past, history and government, but appearantly needs schooling on recent history.

Since 2003, The Iowa Values Fund has spent hundreds of millions taxpayers money on private business and there has been no accounting of jobs that were to be created.

In 1991, Iowa Senate President Joe Welsh, Dummycrat Dubuque, helped market the Iowa Trust, an investment fund, to cities and counties in Iowa. $70 Million was stolen from that investment fund by its manager Steven Wymer.

I believe IPERS was also involved in that investment. I have sent an e-mail to IPERS and State Treasurer Michael Fitzgerald, he serves on IPERS board, seeking that information.

It should be noted that the Legislature took steps to shore up the IPERS fund, which as of last year was $2.2 billion short of being able to pay all of the benefits it had promised to pay.

**********UPDATE**********

I received this response from Georganna Madsen in Michael Fitzgerald's office...

There were no State funds invested in the Iowa Trust Fund.  There were some Counties and Cities that invested, but absolutely no "State" funds.

The quotation marks around State seems fishy, so I naturally had to ask why and here's the response.

Just to make it clear that no State funds were invested.

Seems to me you would have put the emphasis on the "NO" part.