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SInk: I was right, McCollum wrong, on SBA expansion

UPDATE: Here is McCollum's retort

CFO Alex Sink issued a legal opinion today that amounts to an "I told you so" to Attorney General Bill McCollum, who questioned the constitutionality of her proposal in September to expand the SBA that oversees Florida's $110-billion pension fund.

Sink's press office released the legal analysis from former Florida Supreme Court Justice Major Harding, who confirmed that her proposal to strengthen SBA oversight through a number of measures including expanding the trustees board can be done through legislation. During the September Cabinet meeting, McCollum had suggested such a change would require a constitutional amendment.

Harding disagrees, and Sink of course sent a letter to the Governor and McCollum with Justice Harding’s analysis.  She also copied the members of the Investment Advisory Council, who she will speak to about her reforms on Thursday.


Here's the letter: Download Harding Letter 112409



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No matter how many people you put on the oversight board, they won't succeed in their oversight mission if the mandarins that run the bureaucracy that handles the investments doesn't share the whole truth with their overseers.

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