Florida chose an interim director for the agency that invests local government money, hoping to restore confidence in a state fund that saw nearly half its assets withdrawn by investors panicking over mortgage-backed securities.
The trustees for The State Board of Administration unanimously chose Bob Milligan, a widely respected figure in state politics who served as Florida’s comptroller and held the job of insurance consumer advocate.
Florida’s local government investment fund was hit by a multibillion-dollar run by investors last month after they discovered it contained downgraded mortgage-backed securities.
Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Topics Florida
Was this article valuable?
Here are more articles you may enjoy.
Pipeline Explodes at Delfin LNG Planned Project in Louisiana 
What Analysts Are Saying About the 2026 P/C Insurance Market 
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
Inside the Toxic Legacy of Georgia-Based Mulitbillion-Dollar Carpet Empire 
