Local News

State Treasurer Asking Congress For Change In Corporate America

Posted July 18, 2002 4:59 a.m. EDT

— 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.