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The Republican State Leadership Committee's mission is to elect more Republicans at the state level, including Attorneys General, Lieutenant Governors, Secretaries of State, and State Legislators. The RSLC is the largest caucus of Republican state leaders in the Country.

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Michigan Hit With Bear Stearns Collapse

From Freep.com:

The subprime slop at Bear Stearns Cos. — the investment bank that crumbled in the spring after bad bets on high-risk mortgages — cost Michigan real money.

Michigan’s state pension funds lost more than $62 million on Bear Stearns stock from Dec. 14, 2006, through March 14, according to state officials.

And Michigan is hoping to take the lead role in an effort to recoup losses for individual and institutional investors who join a pending class action against Bear Stearns. Attorneys estimate damages for the group at several billion dollars.

The lawsuit alleges that Bear Stearns and individual defendants broke securities laws by misleading investors about the firm’s exposure to subprime mortgages from Dec. 14, 2006, through March 14.

The Bear Stearns fiasco was one of the more drama-filled developments of the credit crunch.

Over one weekend in March, the Federal Reserve worked to engineer a deal in which Bear Stearns would be sold for a price of just $2 a share — a shocking fire sale, as the stock had closed at $30 a share the previous Friday.

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A Fox In Montana Running For AG

From the Sidney Herald:

Tim Fox, a Republican with eastern Montana ties, was in Sidney Tuesday for the Montana Chamber of Commerce meeting.

Fox is fresh off a primary victory in his hunt for the position of attorney general.

“Winning the primary is a good first step,” Fox told the Herald. “I’m looking forward to the next five months of campaigning and meeting people.”

During the previous 11 months, Fox traveled 53,000 miles on campaign trips in Montana. “It was a terrific experience.”

Fox grew up in Hardin and graduated from Hardin High School. He then earned degrees in geology and law from the University of Montana. According to his Web site, Fox began practicing law with the Billings law firm of Moulton, Bellingham & Longo in 1988. He first entered public service in 1990 when recruited to develop a new environmental regulatory program for the Montana Board of Oil and Gas Conservation. After three years as a State of Montana employee, he established a solo law firm in Billings where he served as a contract public defender for the City of Billings practicing criminal law, in addition to maintaining a civil law practice.

Fox says he has been endorsed by many prominent and “ordinary Montanans.” Area legislators Rep. Walt McNutt and Sen. Don Steinbeisser support Fox’s candidacy.

“I think they both feel I’m the best candidate that can make an impact on Montana,” Fox said of McNutt and Steinbeisser. “I’ve known them for many years and I have respect for what they have done in public service.”

Another area tie is that Sidney native Chuck Denowh is Fox’s campaign manager.

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WA AG Race Update: Dem Ladenburg Targets GOP McKenna From California

From SeattlePI.com:

While John Ladenburg was in San Diego for the U.S. Open last week, watching some of the country’s best golfers take swings at golf balls, he was taking some swings of his own at state Attorney General Rob McKenna, setting the tone early for a campaign designed to create a hard-hitting image for a candidate barely known outside his own Pierce County.

Ladenburg offers his list:

Washington’s poor ranking on consumer protection and identity crimes compared with other states.

Public service announcements that look like campaign ads.

A large number of contributions to McKenna from car dealerships, and his lack of experience in the courtroom. Ladenburg, a Democrat and the Pierce County executive, said the contributions strike him as especially odd since car dealer complaints are one of the biggest areas of consumer complaints.

The attorney general is the state’s top legal officer, representing the citizens and running the largest law office in the state.

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