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The Treasury and the Caprio Legacy

The hurdles to a Frank Caprio political comeback are many: the "shove it" comment will be forever attached to his name and the progressive base of the state's Democratic Party seems unlikely to warm up to a candidate who essentially ran as a moderate Republican.

But if Caprio, the former state treasurer, runs for major office again - and I think he could, perhaps as a Republican - he could face another hurdle. The ProJo's Kathy Gregg wrote a piece last week on Treasurer Gina Raimondo's suggestion that the state's pension system could be in worse shape than imagined. And today, Raimondo announced a six-person team of outside advisers who would help her conduct a top-to-bottom review of the office.

At stake is not just our understanding for the state's fiscal health, but Caprio's legacy as treasurer. As a gubernatorial candidate, he naturally put the best shine on his tenure as he could. And his appraisal went largely unchallenged. Raimondo's review may turn up roses. But whatever the overall results, the public focus will undoubtedly be on any problems she tunrs up. We'll see what happens.

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