AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
--I write to correct the false impression created by your Sept. 16 ararticle "Bowles's Luck" by Joel Mowbray. Mr. Mowbray suggests that I made a political decision not to sue Erskine Bowles in connection with losses to our state pension fund from improper investments by Forstmann Little.
The facts clearly establish that the defendants were chosen based on their individual involvement, as they must be. The core of our lawsuit is the allegation that Forstmann, acting by its general partners, invested Connecticut's pension-fund monies in a manner contrary to its assurances to the state, and then restructured certain aspects of the investments to destroy the value of state investments. Our lawsuit names as defendants all living Forstmann general partners whose names appeared either on the original offering statements or who were named in the statement filed with the SEC to document the challenged restructuring. Mr. Bowles's name did not appear in either connection, nor did that of at least one other general partner, Joshua Lewis.
Since then, we have learned of additional information that does provide an appropriate legal basis for suit against Mr. Bowles and Mr. Lewis. I have filed suit against them and will continue to pursue the matter vigorously. I have never met or spoken to Mr. Bowles, nor have I been contacted by him or by anyone acting on his behalf, as far as I know.
Richard Blumenthal, Conn. Atty. Genl.
Hartford, Conn.
--Joel Mowbray replies: As Mr. Blumenthal knows, defendants are named fofor their actions, not for signing on to certain documents. Erskine Bowles was clearly involved in investing "Connecticut's pension- fund monies in a manner contrary to [original] assurances to the state"-he was even on the board of directors of one of the two companies at the heart of the lawsuit. Mr. Blumenthal has acknowledged as much by naming Bowles-after the NR story came out-without adding any new substantive evidence in the refiling. The only "additional information" Mr. Blumenthal has come across is ...