Kate Marshall “Steward” of Nevada Economy Despite Record High Unemployment and Foreclosures

July 12, 2011

Despite her failed record as Nevada Treasurer for the past four years, Kate Marshall sings her own praises as the sole leader of Nevada’s faltering economy.

“‘It’s one thing to say the economy is the number one thing,’ says Marshall. ‘It’s another thing to have to steward the state through a financial crisis when there’re not a lot of money.’“ (Adam Rasmussen, “Democrats Kick Off Campaign,” KTVN Channel 2 News, 7/9/2011)

Marshall’s campaign spokesman went on to boast about Marshall’s accomplishments as Nevada’s Chief Financial Officer.

“‘Despite the worst economic crash since the Great Depression, Treasurer Marshall made taxpayers $55 million through sound investments in the same year that Lehman Brothers defrauded Nevada and the country,’ James Hallinan said. ‘At a time when many states lost money on their investments, Nevada made millions thanks to Kate Marshall’s steadfast and even-handed stewardship of public funds. Marshall continues to pursue every legal option available against Lehman Brothers and their Wall Street attorneys to recover Nevada’s money.’” (Ray Hagar, “Top CD2 contenders now have taken off gloves,” Reno Gazette Journal, 7/9/2011)

Unfortunately for Nevada taxpayers, Marshall LOST $50 million in taxpayer money on a Wall Street gamble that could have been prevented. Nevadans also continue to suffer from the nation’s highest unemployment and foreclosure rates during Kate Marshall’s tenure as the top financial steward in Nevada.

NRCC Comment:

“While Nevada families continue to struggle with the nation’s highest unemployment and foreclosure rates, Kate Marshall is bragging about her failed record as the state’s top financial officer. It comes as no surprise that Harry Reid handpicked Kate Marshall to continue his reckless spending addiction in Washington.” – Tyler Q. Houlton, NRCC Spokesman

Facts on the Nevada economy since Kate Marshall took office.

The unemployment rate has more than tripled from 4% in January 2007, to a high of 15% in 2010, to 12% today (BLS.GOV)
The foreclosure rate in Nevada has been the highest in the nation for 53 straight months (Associated Press)
Both the unemployment rate and foreclosure rate are the highest in the nation

Marshall and Obama