City Securities chief likes Tea Party

March 30, 2010
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You know times have changed when the head of Indianapolis’ main investment bank can identify with the Tea Party movement.

Mike Bosway, the soft-spoken president and CEO of City Securities and a long-time backer of Republican candidates, isn’t the type to go in for raucous demonstrations. After all, he runs the firm that underwrites many of the municipal bonds issued in the state—not exactly a hotbed of protest. He also rejects the shrill tone coming from some Tea Party types.

But Bosway likes its willingness to tackle what he believes are the big issues of the day, such as the role of government (small is better, he says), and other long-range issues like the looming national debt.

He and his friends, many of whom are business owners and also back political candidates, believe the health care reform package is emblematic of a country drifting toward socialism and a government that believes citizens are ‘’too stupid to make their own decisions.”

Here is Bosway’s forecast: Many local business owners will be scouring the earth for political candidates who pledge to push the country back to the right, and then talk them up. They may or may not open their wallets wider to support the candidates, he says, but it’s a certainty they’ll ratchet up their verbal support.

“Any candidate who speaks the language of fiscal responsibility and less government intrusion in the private sector is a candidate that’s going to get a lot of attention,” he says.

Would any of those candidates hail from the Tea Party crowd? Bosway sees none.

What do you think about the Tea Party? What about the long-term direction of the nation? Thumbs up or down?


  • Bosway

    Wow, I actually used to have some respect for that guy. What a dufus.
    Its particularly ironic when you consider that this man has made himself EXTREMELY wealthy as a result of the very government excesses he now claims to detest!?!?!?
    • open your eyess
      This person didn't make money on "Government excesses" he states less is better when it comes to government.
    • open your eyess
      This person didn't make money on "Government excesses" he states less is better when it comes to government.
    • less is better
      "Less is better when it comes to government" but keep those big bond issues coming (for stadiums, sewers, airports, water company, and soon rail transit)!
    • Your girlfriend
      Bigger is always better, everyone knows that. Hahaha. And yes a great number of citizens are too stupid to make their own decisions. Besides, do the banks or insurance companies have our nation's citizens or well-being at heart? No way, look at how the bank's greed helped cripple our economy with little government oversight or regulation. Everyone need to wake up...those 2 industries claim to protect us, the people!
    • Financial Success Does Not Necessarily Mean Common Sense!
      It absolutely astounds me to see the numbers of seemingly intelligent people who fall for the something for nothing logic of the Tea Party. I hear them blaming Obama for every thing, including the deficit, when they were not complaining about the unfunded wars begun by the Bush administration nor the unfunded tax cuts for the wealthy from that same administration. It would almost appear that they have different standards that they apply to a black Democratic President than a white Republican President.
      • Here comes the race card again...
        Seriously, must you examine EVERYTHING through brown-colored glasses? Let's debate the facts and the country will be well-served. If you have no facts to offer up, stop the name-calling and fade away...
      • Put Your Mo9ney Where Your Mouth Is
        So a major funder for Republicans likes to hear Tea Party rhetoric but is he going to open wallets to them? No. How does this make any sense whatsoever?

        Libertarians have been way ahead of the Tea Party buffoons for decades with the small government fiscally conservative crowd. Ron Paul ran as a Libertarian for President before he later became a Republican Congressman from TX.

        Why doesn't Mr. Bosway get real and fund some Libertarians, who do better electorally in Indiana than any other state where they are present?
      • Let 'em rant!
        The Tea Party and its ilk will hoist themselves on their own pitard. They'll eventually recede to their bunkers with their guns, their money, bibles and three-cornered hats, examples of poor potty-training.
      • Ahem!
        Any one who knows the business of this entity knows they have gotten fat off the Government of Indiana and local cities and towns. Favors are the flavor of the day. They have ex government workers employed there that were directly responsible for the enrichment of the company and Mr. Bosway. Journalistic research wins again!

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      1. to mention the rest of Molly's experience- she served as Communications Director for the Indianapolis Department of Public Works and also did communications for the state. She's incredibly qualified for this role and has a real love for Indianapolis and Indiana. Best of luck to her!

      2. Shall we not demand the same scrutiny for law schools, med schools, heaven forbid, business schools, etc.? How many law school grads are servers? How many business start ups fail and how many business grads get low paying jobs because there are so few high paying positions available? Why does our legislature continue to demean public schools and give taxpayer dollars to charters and private schools, ($171 million last year), rather than investing in our community schools? We are on a course of disaster regarding our public school attitudes unless we change our thinking in a short time.

      3. I agree with the other reader's comment about the chunky tomato soup. I found myself wanting a breadstick to dip into it. It tasted more like a marinara sauce; I couldn't eat it as a soup. In general, I liked the place... but doubt that I'll frequent it once the novelty wears off.

      4. The Indiana toll road used to have some of the cleanest bathrooms you could find on the road. After the lease they went downhill quickly. While not the grossest you'll see, they hover a bit below average. Am not sure if this is indicative of the entire deal or merely a portion of it. But the goals of anyone taking over the lease will always be at odds. The fewer repairs they make, the more money they earn since they have a virtual monopoly on travel from Cleveland to Chicago. So they only comply to satisfy the rules. It's hard to hand public works over to private enterprise. The incentives are misaligned. In true competition, you'd have multiple roads, each build by different companies motivated to make theirs more attractive. Working to attract customers is very different than working to maximize profit on people who have no choice but to choose your road. Of course, we all know two roads would be even more ridiculous.

      5. The State is in a perfect position. The consortium overpaid for leasing the toll road. Good for the State. The money they paid is being used across the State to upgrade roads and bridges and employ people at at time most of the country is scrambling to fund basic repairs. Good for the State. Indiana taxpayers are no longer subsidizing the toll roads to the tune of millions a year as we had for the last 20 years because the legislature did not have the guts to raise tolls. Good for the State. If the consortium fails, they either find another operator, acceptable to the State, to buy them out or the road gets turned back over to the State and we keep the Billions. Good for the State. Pat Bauer is no longer the Majority or Minority Leader of the House. Good for the State. Anyway you look at this, the State received billions of dollars for an assett the taxpayers were subsidizing, the State does not have to pay to maintain the road for 70 years. I am having trouble seeing the downside.