The Cantwell lesson

Posted: Tuesday, March 20, 2001

The following editorial appeared in Monday's Providence Journal:

Maria Cantwell, the Seattle dot-com millionaire who helped finance her own narrow victory over incumbent GOP Sen. Slade Gorton last fall, must be doubly relieved she won her race.

With the Internet stock crash of the last few months, Sen. Cantwell has lost an estimated 90 percent of the value of her "fortune." Indeed, things are so bad that she cannot retire her campaign debts, and is mulling partial repayment while renegotiating $3.8 million in bank loans.

It's not often a seat in the U.S. Senate is a financial cushion, but at least it will let Sen. Cantwell eat regularly.

Meanwhile, we are concerned that a doyenne of the New Economy would leave herself so dangerously exposed. Even small investors know it's smart to diversify. And remember: She will be making decisions about the economy.

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