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Article: LOCKE TO PUT STATE-LINKED HOLDINGS IN BLIND TRUST.(News)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- July 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In an effort to head off possible questions about conflicts of interest, Gov. Gary Locke will put his holdings in Washington state companies in a blind trust.
``We may actually sell some of our Washington stocks and move them into government-type bonds or whatever, but whatever is left over will definitely be turned over to the trustee to manage,'' Locke said yesterday.
A blind trust is a financial arrangement often used by high-ranking government officials to shield themselves from allegations that they let personal financial concerns influence official actions. A trustee invests an official's money without disclosing specific assets in the portfolio.