The Real Deal Miami

Lehman’s failure could cause trouble for Florida

September 11, 2008 04:07PM

Florida’s State
Board of Administration (SBA), which handles investments for the retirement
system and 32 other funds, said it was too early to gauge the impact of the
Lehman Brothers crisis on the state. Lehman was one of several brokers that
sold the SBA billions in shaky, mortgage-related securities. Gov. Charlie Crist
and CFO Alex Sink, who serve on the SBA’s three-member board of trustees, said
they suspect Lehman dumped tainted securities on the state.