As president of his company for 35 years, Steve Grossman has been accountable to his customers and colleagues every day for his decisions. He will conduct the public's business the same way.
Steve believes the treasurer's office must be particularly aggressive in disclosing potential conflicts and in thoroughly policing the ethics of those who do business with the Commonwealth. As Treasurer, Steve Grossman will ensure that there are comprehensive transparency rules for treasury policymakers, requiring that they disclose their financial holdings and any prior involvements with firms that have business relationships with the state. Strict competitive bidding regulations should govern the treasury's investment decisions, consulting service contracts, and other business dealings.
These principles are not a reflection on the integrity of those who manage Massachusetts's finances. But with billions of dollars at stake, the public must have confidence that the treasury's operations are open to the "sunshine."
Steve also supports ongoing reform of local public pension systems. The state should consider, for example, whether it does enough to bar companies from doing business with Massachusetts pension funds if they have been guilty of fraud, misrepresentation, corruption, or other misdeeds in other states. Firms that have been part of "pay to play" scandals elsewhere are not welcome in Massachusetts. He will also review disclosure and competitive practices rules governing firms that do business with the state, and make certain the Treasurer has adequate enforcement tools.
Steve will implement reforms administratively where he has the authority and will seek legislative approval where he does not. He will also work to ensure that all the public treasuries and pension funds meet the same transparency and accountability rules as exist at the state level.