The investment by the Springfield, Mass Finance Control Board, the municipal body that manages the city's finances, is valued at $1.2 million, down from $14 million a year earlier, according to Secretary of State William Galvin. The finance board has hired Boston-based law firm Goulston & Storrs to investigate the investment, Springfield officials said in a statement. Massachusetts Attorney General Martha Coakley has also started a probe into the matter, which was reported earlier today by the Boston Globe. The Springfield finance board said it ``believes that Merrill Lynch can and should be held fully accountable for any potential losses.''
The chairman of the Springfield finance board is Chris Gabrieli, who ran unsuccessfully for Massachusetts governor in 2006. Gabrieli, a venture capitalist, was defeated by Deval Patrick.
big surprise . . . . that everyone is trying to duck responsibility.
Posts
No comments:
Post a Comment