How an Illinois Career Politician Not Up To the Task Stole My 529 Money – Points & Figures

"I put my money in short-term rates, and it should have been safe no matter what happened, right? Wrong. Illinois State Treasurer Alexi Gianoullis lost 38% of its value. Why? Because he was unprepared. He was inexperienced and didn’t understand financial markets. He didn’t grasp risk-reward, and he was more into himself as a career politician than he was at being a steward of taxpayer money."
7 Comments
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9mm
10 months ago

Nice to see Trump accounts as an alternative to these plans for those starting out.

Joseph A Murzanski
10 months ago

His family owned a bank where he worked. The bank failed. Isn’t that enough evidence? The markets are soaring. Illinois monies should be soaring as well. People get fired for financial misdeeds. So should Gianoullias. Must be a member of the Mayor Johnson Stupid Club!

Irish Patriot
10 months ago

If youre dumb enough to give the state your money to pay for college at a later date, you deserve everything you get. A 5% tax break isn’t worth the loss.

Gale
10 months ago
Reply to  Irish Patriot

It all depends on the state. Stupid state like Illinois or smart state like VA.

Old Spartan
10 months ago

Not sure Alexi knows squat about finances. Can any one ever recall a real job that he has had? If you spend your entire life living off an allowance from mommy and daddy, why bother yourself with learning anything difficult– like how to manage money. So who put this guy in a position to manage hundreds of millions?

Hello, Indiana!
10 months ago
Reply to  Old Spartan

He didn’t earn the moniker “ Alexi the Bankrupter “ for nothing.

Chaos In My Brain
10 months ago
Reply to  Old Spartan

Kinda like the job experience Mr Jumbo, the governor, had.

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