The elected leaders overseeing the Legacy Fund haven’t been doing their jobs


MINOT, N.D. — I’ve argued, for more than a year now, that the North Dakota leaders charged with oversight of the state’s Legacy Fund are just rubber stamps for the out-of-state consultants contracted to manage that money.

A series of reports from local CBS affiliate KXNews reveals just how accurate that charge is.

Rep. Keith Kempenich, a Republican from Bowman, is the current chairman of the Legacy and Budget Stabilization Fund Advisory Board. When KXNews sat down with him to discuss some of the Legacy Fund’s more controversial investments into puppet companies that carry out the censorship and oppression dictated by the Chinese Communist Party, Kempenich pleaded ignorance.

“What is the State Investment Board doing about not investing in accounts that are connected to Alibaba, which was banned in the United States by the Trump Administration, and investments that are linked to the Chinese communist party and the Russian Government?” reporter Josh Meny asked him.

“Well, like I said yeah. Alibaba, Wahoo was another, you know and we weren’t in any of those, so I can tell you that right now,” Kempenich responded.

That isn’t true.

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