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Treasurer Mike Frerichs

There's a movement afoot to consolidate the treasurer and comptroller's offices. The Illinois treasurer is the chief investment officer. The treasurer pays the state's bills. A merger would save the state $12 million a year. But the powerful speaker of the House, Mike Madigan, is against it because he fears an embezzlement scandal. But the one person who held both posts, Judy Baar Topinka, voiced her support for the change before she died. Now called Judy's Amendment, lawmakers and the two officeholders support the merger. Treasurer Mike Frerichs joins us to share his vision and what he thinks about consolidating his office with the comptroller's post.

Frerichs and Republican candidate Tom Cross both had 48 percent of the vote with Frerichs beating Cross by 9,600 votes. Cross conceded more than two weeks after the election.

Watch Chicago Tonight's Oct. 21, 2014 forum between Frerichs and Cross.


View a timeline of Frerichs' career.

-- Yasmin Rammohan contributed to this report.