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Hillsborough to review investment procedures listen

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Tags: State-run investment fund, Hillsborough County

Hillsborough commmisioners today directed financial planners to review the county's options in the wake of sell-offs of the state-run investment fund.

In just the last month, nervous local government who used the fund for short-term investments of their operating cash began withdrawing funds after reports that about $2-billion in notes backed by subprime mortgages had been downgraded, reducing the balance of the fund from $26-billion to $14-billion.

Hillsborough County is one of the big...