MINOT, N.D. — “I must tell you these allegations of pay to play are insulting to me personally.”
Those are the words of Darren Schultz, deputy chief investment officer for North Dakota, to a meeting of a legislative advisory board. “There’s fake perceptions that Callan is pulling puppets,” he said. “It’s all garbage.”
Schultz’s tantrum is about par for how some officials have reacted to recent scrutiny of the state’s relationship with California-based consultant Callan.
One gets the idea that these public servants handling the public’s money have forgotten they work for the public.
That advisory board meeting was interesting, with state investment officials on defense as lawmakers asked pointed questions about Callan’s financial ties to most companies it has recommended to manage the state’s billions.