This is an update on the ongoing situation with Springfield and Merrill Lynch, which I outlined earlier here http://www.bluemassgroup.com/s… .
Basically, documents unearthed by a State Senator reveal that last fall, after Springfield had already lost millions in Merrill Lynch accounts, the Springfield Treasurer put $55 million in new money with an different firm, but the Control Board Executive Director had him switch the money over to Merrill, where his long-term friend happened to work.
See the somewhat blurry local news story:
Next, the treasurer himself tells his side of the story. He says that the deal with Merrill Lynch was made because of inside connections, admits that he didn’t fully read an important document, and tells of the new $55 million sent to Merrill Lynch. More local news:
What is the response of the the powers-that-be in Springfield to the new bombshells? Executive Director Stephen Lisauskas, as always, refuses to answer or explain- except, of course, to say he did nothing wrong. The person who is most ultimately responsible in Springfield government, Control Board Chairman Chris Gabrieli, continues to channel Dana Perino and dismiss requests for responsibility and/or answers to basic questions as the “blame game.”
Over a week has passed, and there’s no sign Gabrieli and the Control Board are going to hold their Executive Director responsible or even react to the new revelations in any way. What’s up with this? Is it my imagination or is this pretty bad and deserving of more attention- even from the Boston press?
Here’s some more good Springfield coverage;