So, Madison County Board Chairman Alan Dunstan wants to hire a financial adviser to oversee Treasurer Kurt Prenzler's investing of county funds, eh? Where was Dunstan when his fellow Democrat Fred Bathon rigged tax sales to swindle $4.5 million out of the pockets of Madison County taxpayers? Where was Dunstan when Bathon took $150,000 in "donations" from tax buyers? Bathon is now in federal prison, but with no help from Dunstan.
Prenzler blew the whistle on Bathon in 2006 and for this, Dunstan will never forgive Prenzler.
Where was Dunstan when Bathon and his replacement Frank Miles were running their investment scheme with a Little Rock, Ark., bond salesman? Bathon and Miles purchased more that $500 million of long-term bonds, with no competitive bidding, excessive commissions and in violation of standing investment policy. Where was the oversight?
The fact is, Dunstan can't stand it that Prenzler is obeying the law -- a concept that machine Democrats don't seem to understand. Prenzler is investing money safely, in accordance with Illinois law and like other county treasurers in the state. Prenzler has tripled deposits with local banks, up from $30 million to $90 million. That helps local banks make loans to local business to create jobs.
Here's an idea for Dunstan and company. He can hire his buddy Bathon when he is released from prison. After all, Fred is an investment wizard, right? And let's not forget, he did take one for the team. What a stand-up guy.
Roddy D. Riggs