State treasurer's office screens investments for terror ties

On a trip to Southeast Missouri Thursday, Republican State Treasurer Sarah Steelman reiterated her commitment to prevent Missouri's investments from benefiting terrorists.

Under Steelman, the Missouri treasurer's office was the first to hire a firm to screen state investments for terrorist ties. The transition of funds into the new terror-screened fund was expected to be complete by Thursday.

The move has garnered national attention.

"It's the right thing to do because we are still engaged in a war on terror," Steelman said.

On June 29, the governing board of the Missouri Investment Trust selected the private firm State Street Global Advisors to review investments and screen out stocks of companies engaged in sponsorship of terrorism or who are operating in countries sanctioned as state sponsors of terrorism by the U.S. government.

Steelman was in the area visiting farmers, businesspeople and bankers in Southeast Missouri to promote her department's BIG (Believe, Invest and Grow) Missouri program.

The program provides money to banks to provide low-interest loans to farmers and small business operations trying to create jobs. It was created last year by the Missouri Legislature out of the dormant MoBucks program.

BIG also has funds earmarked for ethanol and biodiesel operations -- high priorities in Southeast Missouri, where several ethanol production facilities are currently in the works.

Most recently SEMO Milling announced its plans on July 26 to build a facility that will produce 100 million gallons of ethanol per year. Production is expected to begin late next year.

BIG is just one of the programs Steelman has worked to institute since she was elected to office in 2004. Since taking office, Steelman has changed the role of the treasurer's office by scrutinizing how much money state investments bring in and whether those investments are made in companies with terrorist links.

Steelman also issues regular financial reports for public consumption and delivers a weekly radio address.

"I'm a strong advocate of the Sunshine Law and transparency in government," Steelman said. "It makes us elected officials accountable to the people. We open up everything we can. We want that information available to the public. That, to me, is good government."

All the changes Steelman has implemented have caused speculation in news media and Internet blogs that she'll challenge Gov. Matt Blunt for the Republican party nomination in 2008.

However, Steelman said such speculation is premature, and she thinks the public is more concerned with her job performance as treasurer.

"I'm not talking about 2008 right now. I want to be the best treasurer I can be," she said.

msanders@semissourian.com

335-6611, extension 182