 In the midst of the 2008 market collapse, Caprio established a financial "SWAT team" of Rhode Island's top financial minds to ensure the State's protection from AIG's collapse.For the fiscal year 2010 a national study was done by the Maryland Public Policy Institute which found that Rhode Island's pension plan under Frank Caprio paid some of the lowest fees to outside money managers when compared to the other 49 states.In 2010, Caprio was the Democratic nominee for the Rhode Island gubernatorial election.