Posted in Escambia County

Elebash costs fire pension $3 million

   March 29, 2009

I’m not serious, but that would be how Elebash, Fairchild and others would be spinning the losses of the City Fire Pension, if Quint Studer had been the one that voted to use Merrill Lynch, not Elebash.

It’s the type of half-truth the Save Our City cult loves. C.C. Elebash voted to hire Merrill Lynch in 2001 when he was on the Pension Board. Merrill Lynch is accused of being responsibility for $3 million in losses over seven years. So Elebash’s vote cost the City Pension $3 million. Elebash cost the fire pension $3 million. Read the anti-CMP posts and you will see the same faulty logic used to blast Quint Studer.

Of course, no one would ever claim Elebash’s cost the city pension $3M.

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