Tuesday, January 27, 2015

David McRae running for State Treasurer

Ridgeland attorney David McRae issued the following press release:


David McRae Announces Campaign for State Treasurer

Ridgeland resident David McRae announced his candidacy for State Treasurer this morning on the south side steps of the Mississippi Capitol.  Joining him at the announcement were his wife Katie, their two children, and some friends and supporters.

McRae said, “Like you, I am alarmed and outraged at the corruption in our state government.  Each day it seems we read a new story about bribes, kickbacks, back room deals and incompetence from those we entrusted with our tax dollars.  Sadly, the politicians in Jackson are becoming just as bad as those in Washington.

“That’s why I’m announcing my candidacy for State Treasurer today.  We need a reformer from outside government to come in and clean up this mess.  We have to root out the waste, fraud and abuse and start protecting Mississippi taxpayers.

“I look forward over the coming weeks and months to visiting with voters around the state, to sitting down with newspaper editorial boards and other media outlets, as we unveil more details about our agenda to reform state government and better safeguard our tax dollars.”

Following the event, McRae filed qualifying papers at the Mississippi Republican Party to make his campaign for State Treasurer official.  McRae will soon begin traveling across Mississippi to campaign for Republican primary votes and will begin releasing more details about his reform agenda.

36 comments:

Anonymous said...

McRae is attached to Reeves at the hip.

Anonymous said...

Treasurer? Auditor. We need a new auditor.

Anonymous said...

Who is this guy? Hasn't bothered to show up to any Republican functions at the county or state level. Is he even a Republican? He's 34 years old. This sounds like someone with a beef with Lynn Fitch.

Anonymous said...

Hasn't shown up to any Republican functions at the county or state level? I don't see anything wrong with that at all!

Anonymous said...

Who doesn't have a beef with Lynn Fitch. The lady has no integrity. If this guy is just a lackey for Tate Reeves, then he probably doesn't either though.

Anonymous said...

Hasn't shown up to any Republican functions at the county or state level

gasp, he really is "a reformer from outside government"

i guess he doesn't know you're only supposed to say stuff like that, not actually mean it

Anonymous said...

Taters hands are all over this !!

thusbloggedanderson said...

"We need a reformer from outside government to come in and clean up this mess. We have to root out the waste, fraud and abuse and start protecting Mississippi taxpayers."

Out of curiosity, what does the state treasurer's office have to do with this?

From the agency's website, a list of its statutory duties:

To invest and account for general, special, clearing, and special purpose investment funds, as well as bond proceeds, according to specific legislated authorization and direction
To account for and invest trust funds in the custody of the Treasurer
To account for and disburse funds for scheduled payments on bonded indebtedness
To prepare all reports and maintain all records required by the Federal Tax Reform Act for calculating any required arbitrage rebate
To distribute proportionate tax revenues to counties, cities, and other taxing districts of the state
To monitor the cash position of all Treasury funds to ensure that cash balances are invested immediately and sufficient cash balances are on hand to pay obligations as they become due
To provide a cash flow projection for the timing of receipts and disbursements
To identify and recommend to other state agencies the use of cash management techniques which speed collection and increase earnings on investment balances
To prepare semi-annual GAAP (Generally Accepted Accounting Principles) report packages on all funds managed by the Treasurer for inclusion in the Comprehensive Annual Financial Report prepared by the Department of Finance and Administration.
To act as custodian of unclaimed property reported to the Treasurer and attempt to locate the rightful owners so that they may claim their property
To serve as Treasurer to the Mississippi Employment Security Commission
To ensure that all state deposits in approved depository institutions are collateralized at 105 percent of the deposit balance according to statute
To serve as custodian for securities pledged to the state and its agencies
To annually approve and issue a commission to all financial institutions serving as depositories for state funds
To process and pay all warrants issued by the state in payment of its obligations
To administer the Mississippi Prepaid Affordable College Tuition (MPACT) program and invest the corpus of the MPACT trust fund on behalf of the purchasers of state-guaranteed college tuition contracts
To oversee the Mississippi Affordable College Savings (MACS) program and monitor performance of the MACS program manager

Which of these is not being performed sufficiently well, according to Mr. McRae? Genuine question.

Anonymous said...

This is the best news I've heard this year! Everybody who put her where she is (most are embarrassed by the way) has been thrown under the bus by fitch. Politics is a tough business and everyone knows fitch is a little crazy, payback is going to hell.

Anonymous said...

I like primary challenges. I like keeping incumbents on their toes. That said, other than being a McCrae and presumably having McCrae money, what are this guy's credentials to be the State Treasurer?

Anonymous said...

Does anyone know if this guy is Tea Party

Anonymous said...

his best creds are he did not support Billy Hewes!

Anonymous said...

No evidence of tea party that I have been able to find, although that is limited to a slightly less than 24 hour search. Appears to be just a bright young man that thinks he can contribute and wants to run.

Don't know what he will base a campaign on that anybody cares about - but Fitch didn't really run on anything that really has to do with the Treasurer's office either in her purchase of the office four years ago.

Be interesting to see - $$s against $$s, unless daddy isn't willing to put up megathousands again for Lynn. Sounds like daddy McRae is willing to put it up for young David.

Let the games begin.

Anonymous said...

I to am wondering if he is a Tea Party guy. We have 2 already running in Madison for office. My guess is they are trying to make a power grab around the state. The tea party has 3 running against incumbents in Desoto County.

Anonymous said...

Wonder what Lynn's sisters will think now - will daddy put up more of their inheritance? Will daddy's new wife put her foot down? Stand by for fireworks from Marshall County. Maybe Lynn can get her buddy Chris McDaniel to back her! After all, she did nothing for Thad and Thad's people know that!

Anonymous said...

Bomgar is behind the Tea Party people running in Desoto county.

Anonymous said...

McRae isn't Tea Party. He's beholden to the Haley Barbour machine.

Money to be made here Pete Perry. Just lay off the booze.

Anonymous said...

This guy probably would not know Joel Bomgar if he punched him in the face. Will the conspiracy theories never end? Now you have Bomgar calling the shots in Desoto county? Has he every even been out of Hinds and Madison counties?

Anonymous said...

8:32 You obviously have no idea what your talking about. 6;23 is correct about Desoto county and the Bomgar involvement with recruiting Tea Party candidates up there. Feel free to call any of the elected legislative members up there and ask them. Forrest Hamilton and Wanda Jennings are 2 of them. This is common knowledge but obviously you aren't even privy to even common knowledge. Next your going to say Bomgar and the Tea Party supported Cochran!!! LOL

Anonymous said...

All I needed to hear is that he's backed by Tater Tot. If true, there's no way in hell that I would vote for him. Tate Reeeves is an arrogant, pompous, self-righteous, ego maniac. The members of the senate must ask him if they can have a potty break every day. Tate has NO clue about doing what is best for our state. Tate does what is best for HIM. It's pathetic. Or rather, he is pathetic. WE NEED CHANGE. However, any change backed by him isn't a good change.

Anonymous said...

@6:24-- thanks for the post Mikey Watson; you still mad little boy?

Anonymous said...

Lynn Fitch has gotten rid of a majority of the Treasury staff that worked under Treasurers Marshall Bennett, Peyton Prospere and Tate Reeves. These were dedicated public employees. She brought in her people making a ton of money. A majority of the remaining staff did not get the big raises that Fitch gave. She wanted her staff to have offices - not cubicles. She did the same thing at the SPB!

Anonymous said...

Lynn Fitch has gotten rid of a majority of the Treasury staff that worked under Treasurers Marshall Bennett, Peyton Prospere and Tate Reeves.

So what? To the victor goes the spoils. EVERY officeholder is entitled to bring in their own people. PERIOD.

Anonymous said...

I've heard that many people are disappointed with Fitch, but I have yet to hear one credible thing she's done wrong while in office. McRae doesn't spell out anything he would do differently. This will be an uphill climb for him.

Anonymous said...

Maybe Scott Walker and hid Dad can get released for a day or two so he can have another fundraiser for her!

Anonymous said...

Hayes, your girl is in trouble..time for you to rescue her again!!

Anonymous said...

David McRae has never held a job in his life. He has never earned one paycheck. Check and see.

Anonymous said...

While funny if it were true 2:29, I know he worked and for a limited time worked at the State Treasurer's office.

Not sure the exact position but it was within the last 3 years.

Anonymous said...

He's been working with his father for years in the family business and their charities. McRae Investments or something in Regions Bldg downtown.

Anonymous said...

Sometimes you just need a change.

Anonymous said...

The more I read what the state treasurer does, the more I wonder why it's even an elective office. CPA w mgmt skills.

Anonymous said...

Shouldn't be an elective office. One of many we need to get rid of from the ballot.

8:32, while I agree about victor/spoils, that does not - or at least isn't supposed to - apply to career employees. The treasurer's office only has one or two positions that were 'appointive' - the rest are civil service.

I have no doubt that some of the employees there might need to be gone - that's true in every agency (local, state and federal). But pushing out competent employees so that you can replace them with hacks isn't kosher. Or legal, for that matter.

Anonymous said...

Doesn't matter to Ms Fitch whether personnel decisions are legal or not. She hires who she pleases and runs off anybody who questions her decisions. A lot of institutional knowledge has been sent packing at two formerly reputable state agencies. The public sees her happy face and sweet smile. Her employees see the other side.

Anonymous said...

I looked at Fitch's campaign report she filed Friday. She paid around $12,000 in interest to Trustmark Bank. If she got an interest rate of 4%, that would be a note of $300,000 - If the rate was lower than 4%, the note would be higher! Daddy, I need more money. Forget my 2 sisters - I'm your favorite remember!

Anonymous said...

What a joke! David McRae running for anything is hilarious. Let's just see if family money can buy your way into office.

Anonymous said...

Received a mailer yesterday for David McRae. I was intrigued by the statement."Dedicated to the Job of Treasurer. David will be a full-time State Treasurer who shows up for work each day. He will accept only the same vacation and benefits available to other state employees." Very interested to know what led to this being a important part of his platform.

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