Governor Charlie Crist, Chief Financial Officer Alex Sink and Attorney General Bill McCollum voted to temporarily stop withdrawals from a shaky state investment fund.? The three top leaders make up the State Board of Administration.? Cities, counties and school boards have taken out $10 billion from the fund in the last two weeks, and $3.5 billion on Wednesday alone.<\/p>\n

?We?ve seen this fund depleted by several billion dollars in the past few days,” said Gov. Crist.? “There was sort of a run on it, if you will.? I think our main fiduciary responsibility is to stop that from occurring.? No matter what?s motivating it, whether it?s factual or not factual.? It?s almost irrelevant from this point.? We have a duty to be good fiduciary board members on the SBA and protect the investment of the people.?<\/p>\n

Crist, Sink and McCollum also voted for an independent adviser to look into the fund before they take any action.<\/p>\n","protected":false},"excerpt":{"rendered":"

Governor Charlie Crist, Chief Financial Officer Alex Sink and Attorney General Bill McCollum voted to temporarily stop withdrawals from a shaky state investment fund.? The three top leaders make up the State Board of Administration.? Cities, counties and school boards have taken out $10 billion from the fund in the last two weeks, and $3.5 […]<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/1387"}],"collection":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/comments?post=1387"}],"version-history":[{"count":0,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/1387\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/media?parent=1387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/categories?post=1387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/tags?post=1387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}