But the exercise proved to be successful in other ways.

Not only did Malone receive accolades for refusing to attack the very vulnerable Kennedy, but he established the roots of a statewide network which many believe allowed him to win the treasurer's race two years later.

His opponent in that 1990 election was current Secretary of State, William Galvin.

Claiming that Malone was mounting a "campaign of personality," Galvin attempted to capitalize on the newcomer's lack of leadership experience.

But as the only veteran candidate of a statewide election, Malone and his growing network won the race, claiming 57 percent of the vote.

Streamlined Government

Although many of his changes have been oriented around conservative fiscal reform, Malone maintains that his political philosophy is fairly balanced.

"I consider my philosophy very eclectic. On the one hand, I am obsessed with efficiency and effectiveness in government. On the other hand, I am constantly looking to solve problems," he says.

One of the treasurer's most extensive projects has been restructuring the pension program for state employees.

Malone's former Pennypacker Hall proctor, Director of the Harvard Alumni Association John P. Reardon Jr. '60 says that soon after his election, the treasurer asked him to serve on a committee to oversee the redevelopment of the pension program.

Reardon says that Malone's process was highly effective, shifting the pension plan's focus from savings accounts and universal life insurance plans to more lucrative mutual funds and resulting in a doubling of assets.

Malone is using a similar management style to restructure the state lottery.

According to Executive Director of the Lottery Samuel M. Dephillippo, Malone has "brought [the lottery] into the 21st century."

Dephillippo says that with a series of changes which include automating the $2-billion instant game system, instituting multi-state games, cutting staff by 60 to 65 percent and purchasing a state-of-the-art computer system, Malone's administration has turned the lottery into a business.

But Malone is beginning to take heat for his work on the lottery, as well.