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State Treasurer Asking Congress For Change In Corporate America

Posted July 18, 2002

— North Carolina's state treasurer went before Congress Thursday, demanding change within corporate America.

Richard Moore wants companies to answer tough financial questions before he invests state pension funds. He manages a retirement fund for 600,000 North Carolinians, which amounts to about $62 billion.

"We're not asking for anyone to guarantee that you won't lose money in the stock market," he said. "We are asking for a guarantee that it is fair and we have got to have that."

Moore said the recent corporate accounting scandals and collapses are evidence change is needed.

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