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EDITOR OF REDSTATE

Alex Sink Gambled Florida’s Future and Lost

“If Rick Scott is the Bernie Madoff of Medicare, is Alex Sink the Charles Ponzi of the Public Trust?”

Well, well, well. What do we have here?! It turns out that the Democratic nominee for Governor of Florida is tied a bit too closely to Charlie Crist and Bill McCollum in screwing Florida’s citizens.Sink sunk the state with bad investments. When the investments collapsed, Sink wanted to blame everyone but herself.

Chief Financial Officer Alex Sink pushed the state to sue big banks, which she said dumped tainted investments on Florida.Gov. Charlie Crist demanded a no-holds-barred investigation and named four Wall Street firms that he suspected took advantage of the state.Attorney General Bill McCollum wondered if there had been fraud and promised help with an investigation.But no bank was prosecuted, no lawsuit was filed and there was never a full accounting of a financial debacle that could cost Florida governments and taxpayers hundreds of millions of dollars.Now the St. Petersburg Times has obtained e-mails and internal memos that document a story at odds with the one told by Crist, Sink and McCollum, the elected officials responsible for oversight of the state’s money managers.

In fact, the St. Petesburg Times reports the state’s money managers ignored and bypassed rules relating to investments and bought up high yield, exceedingly risky, investments that ultimately collapsed.Who was responsible for overseeing the State Board of Administration, which did the risky investments?Alex Sink — along with Charlie Crist and Bill McCollum.If Rick Scott is the Bernie Madoff of Medicare, is Alex Sink the Charles Ponzi of the Public Trust?

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