Magaziner Holds Off Riley and Retains Treasurer’s Office UPDATED

Wednesday, November 07, 2018


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Seth Magaziner defeats the GOP's Mike Riley

Democratic General Treasurer Seth Magaziner beat back GOP candidate Mike Riley to win reelection to a second term.

With 93 percent of the vote in, Magaziner has 64.4 percent to Riley's 35.5 percent.

At the Democratic celebration at the Biltmore Hotel, Magaziner was accompanied by his wife on stage who he thanked for supporting him throughout the campaign. “It’s not easy having an elected official in your family,” he said.

Magaziner thanked Rhode Islanders for voting. “Thank you for inspiring me every day,” he said.

“I want to thank all the people who won tonight,” said McKee. “It was a great day for all of us,” Magaziner continued.

Riley had hammered both Magaziner and his predecessor and now-Governor Gina Raimondo for funneling fees to Wall Street.

“Wall Street fees of $450 million over the last 7 years. Do Rhode Islanders really want to support Wells Fargo, Goldman Sachs, Point Judith Capital Partners, Elliot Management, Third Point (Dan Loeb), State Street, Hilltop (formerly Southwest Securities), Brevan Howard, Brown Brothers Harriman, JP Morgan, Morgan Stanley, Prudential, Credit Suisse , PIMCO, Blue Crest capital, Och Ziff, Luxor Capital, DE Shaw, Claren Road, Fidelity and Russell among 150 others?”

But Riley did not raise any money and ran most of his campaign via social media posts.

Magaziner’s win puts him as one of the leading Democratic potentials for the Democratic nomination for Governor in 2022.

With 7 days left in the campaign, Magaziner had a campaign account balance of more than $524,000 — although his campaign still has outstanding loans of more than $700,000 left over from his run in 2014.


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