Blind Trusts Boost Public Confidence

posted on
Blind Trusts Boost Public Confidence

From The Tampa Times

In 2006, the Florida Commission on Ethics endorsed the principle that blind trusts are an effective means of assuring public officials are making decisions that are in the best interests of the state. As former members of the commission, we continue to strongly support that position.

Under a blind trust, public officials give up the right to control how their investments are managed, and they are not entitled to information about the specific holdings in the trust. As a result of the use of blind trusts, Floridians can have greater assurance that their elected officials are making decisions that are in the public interest as opposed to their own personal financial interests.

Placing assets in a blind trust has become a relatively common practice of elected officials around the country. Furthermore, blind trusts have received widespread support from newspaper editorial boards and government watchdog groups.

We continue to believe that blind trusts are a crucial means of strengthening public confidence in the integrity of elected officials. Furthermore, we support Chief Financial Officer Alex Sink's efforts to minimize the possibility of conflicts of interest by setting up a blind trust.

Thomas P. Scarritt Jr., former chairman; Charlie Lydecker, former vice chairman, Florida Commission on Ethics

Categories: Ethics | Tags: Politics, Ethics | View Count: (2107) | Return