This is the best commencement speech ever on a South Carolina scandal | Opinion
There are three people in South Carolina state government whose terrible financial oversight has drawn the scrutiny of U.S. Securities and Exchange Commission investigators at a cost of tens of millions of dollars in corrective measures and millions more in potential fines, threatening the state’s borrowing capacity and costs as state infrastructure needs are starting to pile up.
They are the state auditor, state comptroller general (or accountant), and state treasurer (or banker). Two of the people responsible for a rash of accounting errors have already accepted responsibility for their actions, resigned and been replaced. Treasurer Curtis Loftis has not.
I’ve written a lot about Loftis. This is about the new comptroller general, Brian Gaines. Whether you follow every twist in this scandal or not, you should read this for some serious inspiration and assurances that if Loftis won’t act like an adult, someone will.
Loftis is currently under investigation by both the SEC and the state Inspector General. Last month, the state Senate voted 33-8 to remove him for willful neglect of duty though the House refuses to uphold its own constitutional duty and take a final step that could potentially oust him from office.
After a daylong Senate hearing and its vote, Loftis released a statement that said, “I believe it’s time to put this political gamesmanship behind us and work together to reassure everyone of the strength of our financial system moving forward.”
Loftis has long refused to accept responsibility for the mess, has passed the blame onto others, has dismissed reporting on his blunders as fake news and has gallingly tried to gaslight voters who don’t have or won’t accept the facts into thinking he actually deserves reelection in 2026.
Loftis’ lies and the House’s failure to consider the Senate’s investigation are enough to make me think the SEC investigation may drag on forever because investigators will never be assured South Carolina’s leaders have truly acknowledged, fixed and moved on from the state’s awful mistakes.
Then I heard recent remarks by Comptroller General Brian Gaines, who was appointed two years ago.
Gaines not only acknowledges the problem, he wants to rebuild trust as Loftis won’t. Gaine’s speech was so different than how Loftis tries to pull wool over people’s eyes, it’s worth sharing in its entirety. It’s the kind of stuff every recent graduate and state resident should hear.
Here is what Gaine told the graduating class of Piedmont Technical College last Thursday, May 8, excluding a brief introduction. As you read it, consider the general advice and the specific differences with Loftis’ refusal to do the right thing.
Consider owning your own mistakes, and ask yourself if Loftis has taken or shifted responsibility, if the difficulties of recent years have made him stronger or smaller, and if he has stood tall as a result. Ask yourself if South Carolina is better or worse with a state treasurer who scoffs at problems and those calling attention to it.
“Thank you for this opportunity to share in this defining moment of your life,” Gaines began. “I am honored to be able to share just a few life lessons with you on this day of your celebration.
“Typically, at a college graduation, the invited speaker stands up and talks about how perfect things will be after leaving this institution, how all days will be spectacular, and how your career will be perfect and free from all flaws.
“Well, I’m not a typical speaker, so let me be honest with you. Things will not be perfect and you will make mistakes.
“But what if I told you that some of the best things that will happen in your life will start with a mistake? Now, I’m not talking about small mess ups like spilling a cup of water on your computer when finishing a final assignment and having your computer crash and losing that assignment. Hopefully, that didn’t happen to any of you.
“But what I’m talking about is a real mistake, like failing a class, picking the wrong major, getting fired from a job, or in the state’s case, making a $3.5 billion accounting mistake.
“See, many of you may have heard, there’s been a little bit of drama going on in Columbia the last two or three years about a series of accounting mistakes, $3.5 billion one year, $1.8 billion the next. Now, let me be clear, both of those occurred before I assumed this office.
“Before I accepted this office, the state of South Carolina discovered a pretty significant error within our state’s financial system. An error that shook the public’s confidence and raised real, serious questions about oversight, transparency and government accountability.
“The headlines were not nice, the criticism was fair, and the consequences were and still are very real. So, why would I talk to you about this at your college graduation? It’s because I want to honestly tell you about something that I think we as a society don’t do enough to those of you just starting out. You will make mistakes. The beauty about a mistake is they don’t have to define you, your careers, your leadership, or even your lives. We are not defined by how many mistakes we make, but we are defined by how we respond to them.
“When I stepped into this office, I did not inherit a clean slate. I inherited a fairly chaotic situation, one that was extremely technical, complex and frankly embarrassing. But what mattered most to me was not just fixing the numbers. It was rebuilding the office’s trust. That meant owning what happened and not hiding from it.
“Lesson one. Responsibility is not about blame, it’s about ownership. When something goes wrong, will you point fingers, or will you roll up your sleeves and ask, what do I do now?
“This is true, whether you’re operating your own business, managing a budget, leading a team, or even raising a family. Leaders take accountability. They acknowledge the damage, and then start to work on their repair. You do not have to be perfect to be trusted, but you do have to be honest. Honest with yourself and those who are impacted by your mistakes.
“Your goal is not to just fix the mistake, but to build something better. In order to do that, you must be resilient. If mistakes are the fire, resilience is the mighty phoenix that rises from the ashes. The mere fact that you’re here today shows each of us that each of you are resilient.
“Each of you have proven your resilience. You got through late night study, early morning classes, financial stress, self doubt, and probably at least one family situation that caused you to seriously question, why am I even trying to do this?
“Some of you have juggled kids, aging parents, long commutes, and even short paychecks. And somehow, you didn’t quit. And we’re celebrating with you today.
“Resilience isn’t about pretending things are fine when they’re not. It’s about facing what’s hard and showing up anyway. It’s waking up after a tough night and choosing to keep moving forward. It’s sending in that next job application, after just getting rejected. It’s forgiving yourself where you’ve been tempted by life, circumstances, to stay stuck right where you are
“For welders, resilience is like steel. No matter how much you heat it, bend it or stretch it. It will not break. Resilience is not flashy like strength. You don’t get a trophy for dragging yourself out of bed to finish an assignment when you’ve only had a few hours of sleep. But it’s the kind of strength that lasts.
“Lesson No. 2. Life is going to throw some things your way. You already know that, but resilience is what keeps you grounded when mistakes and hard times show up. So what, if every job application doesn’t get answered? You send in another. If a door shuts, you knock on the next one. That’s who you are, not just because you’ve learned that here at Piedmont Tech, but because of what you’ve lived through and experienced outside of it.
“I’m from the small town of Barnwell, South Carolina. Barnwell is not very different than the places you grew up, like Saluda, McCormick, Abbeville, Clinton or Ninety Six. Places where people raise wave from their front porches, where the Walmart or IGA parking lot is the community gathering place. where the same teacher taught your parents before they taught you, where everyone knows your name. And most importantly, they know your mama’s name.
“And that’s usually enough to keep you from getting in trouble. Small towns have unique charm. They can be quiet, but they can teach us something very loud. You matter. What do you do. How you show up. How you treat people. It gets noticed. And that is a very powerful thing.
“If you’re like me, growing up in a small town, you might have wondered if that hometown would hold you back. Maybe even people told you, you need to move on from here in order to make something of yourself. I don’t think either of those statements are true, but one thing I do know is small towns give us roots.
“They teach us how to work hard, not just when it’s convenient, but when it’s expected. They teach us how to speak to people, all people, with respect. They teach us how to be creative when our resources are limited.
“Lesson three, small towns remind us that success is not measured by how far you go, but how many people you bring along with you.
“If you’ve ever helped a neighbor without being asked, showed up for someone in hard times, or cheered for the football team every Friday night. Then you carry something with you that no big city could ever teach you. The power of community.
“That’s not something you should run from or try to overcome. That’s something you should be proud of. So as you leave this place and step into the future, whatever it may be, I hope you remember these three things.
“No. 1, make bold mistakes. Know that you will get some things wrong. It doesn’t mean you’re failing. It simply means you’re trying.
“No. 2, build your resilience. Let hard moments make you stronger, not smaller.
“And No. 3, never be ashamed of or question where you’re from. Your small town roots are deep and they’ll help you stand tall.
“In the end, it’s not about what you achieve. It’s about the person you become in the process.
“So class of 2025 may God bless each of you richly as you continue on your journey.
“Congratulations.”
Maybe one of Gaine’s central points will resonate with Loftis. Or with members of the state House of Representatives. Or with someone with the financial and political skills to challenge and unseat Loftis next year. Or with enough voters.
That point? Don’t pretend things are fine when they’re not.
One thing’s for certain: It will resonate with SEC.