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Fitz-Gerald attacks Polis over investment

Candidate says fund weak on the environment

By Todd Hartman, Rocky Mountain News

Published July 18, 2008 at 6:22 p.m.
Updated July 19, 2008 at 12:53 a.m.

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Congressional candidate Joan Fitz-Gerald struck back at Jared Polis on Friday, accusing her rival of failing to divest himself of a mutual fund that includes investments in mining companies with spotty records on the environment and human rights.

"It's not just that he didn't divest, he actually expanded his holdings," said Mary Alice Mandarich, Fitz-Gerald's campaign manager.

Mandarich said Polis' spokesman pledged in April that Polis would divest himself of such stocks.

The attack was the latest in what's become a nasty race in the 2nd Congressional District's Democratic primary between Fitz-Gerald and Polis.

Conservationist Will Shafroth also is running, but has avoided the fracas between Fitz-Gerald, the former State Senate president, and Polis, an independently wealthy Internet entrepreneur.

At issue is Polis' holdings in a fund called Evergreen Precious Metal Holdings. Polis' 2007 financial disclosure shows assets between $5,001 and $15,000 in the fund.

Polis' 2008 disclosure shows his holdings in the fund were between $100,001 and $250,000.

Fitz-Gerald's attack comes in the same week Polis' campaign attacked Fitz-Gerald for taking political action committee donations from two major mining companies - AngloGold Ashanti and Newmont - with involvement in environmental and human rights controversies.

Polis' campaign manager Robert Becker blasted back, arguing that Polis' did divest himself of individual stocks associated with such controversies, but that he doesn't have the same control over his mutual funds.

"This line of attack shows Joan Fitz-Gerald's financial idiocy," Becker said.

"Mutual funds - you don't have control over that. They're managed by a money manager. . . . It's two whole separate ballgames.

"If this is their line of attack, they're launching an attack on millions of working Americans" who own mutual funds, Becker said.

In contrast, Becker said, Fitz-Gerald accepts money from political action committees associated with corporations.

Those donations, he said, are a direct effort by such groups to influence her vote.

"If you want to compare apples to apples - she takes PAC money, and we don't. If a PAC check comes in here today . . . we'll tear it up," Becker said.

But Mandarich said Polis' financial holdings are important, because he is mostly self-financing his campaign with his personal fortune.

So the companies generating his income need to be scrutinized.

"He is a special interest of one," Mandarich said.

"He is in essence funding his campaign from proceeds of these companies."

hartmant@RockyMountainNews.com or 303-954-5048

Comments

  • July 18, 2008

    8:11 p.m.

    Suggest removal

    Mike846 writes:

    I'm no fan of Jared Polis, but this is the type of nonsense that makes people want to stay home and not vote. Who gives a damn WHAT he has in his portfolio? That's HIS business. If the Dems weren't so damned worried about political correctness, maybe they could focus on problems and solutions instead of catchy slogans ("change"..."hope"..."new direction in Washington"). What we need is substantive discussion, on ALL sides, and where someone's money comes from or how much they spend on their campaign should have no bearing on it. I know, I'm dreaming, but doggone, come ON, people. Stop this jive and talk about the issues. Mike

  • July 19, 2008

    4:05 a.m.

    Suggest removal

    analytixman writes:

    Jared Polis has bought every political position he has ever had and will out spend all competitors again out of his own pocket. Money talks. This is not news, most people in congress are multimillionaires. More important to the voters should be the scrutiny of Polis's homosexual status, and his way left left wing stance on most issues.

  • July 19, 2008

    6:30 a.m.

    Suggest removal

    Mike_In_Hartsel writes:

    Polis is so left-wing he's almost off the chart. But really, who cares about a mutual fund?

  • July 19, 2008

    9:33 a.m.

    Suggest removal

    gary writes:

    Hmmmm...a rich Dem avoiding taxes that wants to get elected right?

    Seems like the Democrat way to do things!

    Nuff Said!

  • July 19, 2008

    10:59 a.m.

    Suggest removal

    fastnloose writes:

    Someone said Polis is homosexual.Is this true? I never knew that,nor have I read anything about his lifestyle.

  • July 21, 2008

    10:52 p.m.

    Suggest removal

    DaggerJade writes:

    This mutual fund mumbo jumbo is ridiculous. Every American with a retirement account invests in mutal funds. It's like Joan Fitzgerald is trying to trick voters into not liking Polis. Fitzgerald is disrespecting voters with her tactics.

    Second, to respond to one of the other posts, Polis doesn't avoid taxes--he wants to repeal the Bush tax breaks for the richest bracket of people, which he would fall into. In other words, he wants to raise his own taxes in order to help the middle class so that they can pay less taxes.

    Third, to respond to another post: it is really, really time to stop being homophobic. Just freaking move on pal. If you scrutinize Polis's lifestyle, I bet you'll find someone who has way more itegrity, compassion, and honesty than you do, pal.