Thursday, April 09, 2009

Morgan Keegan Mess Continued - Unanimous Approval By State

More bloggers today take up the NYTimes tale I wrote about yesterday about how one investment bank, Morgan Keegan, was allowed to be both sales force and underwriter for municipal bonds issued across the state (and in other states too), in a world-class example of conflict of interest and how it has damaged communities and individuals.

Andy Axel at KnoxViews
ACK at PostPolitics
Aunt B, at Tiny Cat Pants
Gov. Bredesen via Nashville Scene

And the fiction writers at the TNGOP claim it was all Gov. Bredesen's fault -- despite the fact that the process which gave MK the approval to work they way they did was passed by the state legislature in 1999, with unanimous votes in both the House and the Senate. Bill Hobbs and crew might want to bone up on some history and recall that Republican Don Sundquist was governor at that time.

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