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Crist and Sink urge Milligan to hire "outside counsel" to look at state board

Gov. Charlie Crist and Chief Financial Officer Alex Sink have released a somewhat cryptic joint statement that says that they have suggested that Bob Milligan, interim director of the State Board of Administration, to hire "outside counsel" to assist the SBA.

The joint statement says: "It is essential that we examine recent events with the Local Government Investment Pool.  In the interest of our government investors and to restore confidence, all investments sold to the state of Florida must be reviewed."

Sink has already pushed for auditors to review what happened at the Local Government Investment Pool - which nearly collapsed when investors rushed to take out billions they had in the account run by the SBA.

What's not said on the release: No mention of Attorney General Bill McCollum, who is the third trustee that oversees the state board.

The release comes on the heels of an annoucement earlier today that the SBA has secured a AAAm rating from Standard and Poor's for the good assets left in Fund A of the Local Government Investment Pool.