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EDITOR OF REDSTATE

Alex Sink Gambled Florida’s Future and Lost

By: Erick Erickson (Diary)  |  September 20th, 2010 at 01:53 PM  | 

RESIZE: AAA

“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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COMMENTS

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  • fpete13527

    ….have attempted to destroy Florida.

    The Obama/Crist/Sink crew, and any associated members of the Florida state legislature will have to answer for the desecration that they have done to Florida.

    This pitiful crew is also pushing to accept Obama money to lobby more for Dem / Socialist programs like bogus Green projects, ObamaCare and Light/High Speed Rail.

    Rick Scott is AGASINT all this and is committed to balance the State Budget now, bring integrity back to Florida, and begin creating real jobs in the state now.

    Sink, Crist, Florida Dems, and some Florida RINO Republicans have been pushing the Obama progressive financial irresopnsiblity and ruin of the State since day one.

    Sink, Crist, Florida Dems, and Florida RINOS need to be thrown out and kept out.

  • Adjoran

    Add this to Crist’s vacations on his state credit card, and we will be welcoming Florida back to the right side of the aisle in November.

    Let’s just hope the cleansing wave washes away that Grayson jerk, too.

  • RedBeard

    Geological sinkholes are bad enough, but now we have Sink’s hole, into which billions of dollars might have gone.

    So much for Sink’s hoped-for moral high ground positioning in her campaign against Rick Scott.

  • Hugh

    Erick, you are the attorney but I think I remember that you can’t do anything indirectly that is not lawful directly. The LGIP was money from municipalities across Florida and none are eligible to be QIB’s as defined under rule 144A. Therefore, there pooled money could not be a QIB either. After Florida puts a few of these people in jail tell the bailiff to call the next case.

    PS I understand that Bernie Madoff is lonely and needs company.

  • RedBeard

    It would help the typographically impaired, like me.

    Title should have started with the word Florida.

  • cwilson

    the Attorney General. Nothing will happen here until after the new Atty General is sworn in — on January 4, 2011.

  • mboyle1988

    I have no doubt. My state will come through at the end of the day.

  • southernpatriots

    It is a shame and those responsible should answer. In a Southern city for a number of years, bids were solicited for procurements according to the state law. The lowest bid was accepted. When the invoice was received and paid by the city, the amount no longer was the bid amount but was 10 to 20 times larger. This went on for many years and the local newspaper investigated it. Monies were paid under the table to officials.

    In Louisiana and Chicago dead people vote, even thousands, ask Mary Landrieu how she originally won her Senate seat. In West Virginia, voters would be given cash money to vote and a pre-printed ballot to take in with them so they would vote the straight Democrat ticket. RINOs may well be worst than Democrats in that they ruin the Republican party and its reputation.

    Conservatives rise up and participate!

  • mdd1956

    Scott has already had his day in court, others have not, YET.

  • chabsentia

    I live in the Northern part of Florida and as usual there isnt much of a choice. The Florida State legislature passed a bill that tied Teacher Tenure to Proficiency and it was vetoed by Crist because he wanted the Teachers Union vote. Mc Collum lied about his Immigration stance with a Arizona. Scott was the head of an organizartion that committed Medicare fraud and Sink is so tightly connnected to Obama that if he made a sudden turn that her nose would be broken.Even so there will be people who will vote for Crist etc