Senate committee continues on SSB money trail

The Senate select committee conducting an inquiry into the Social Security Board continues its work. According to a press release, the committee met twice this week to advance its review of SSB investments, loans and guarantees. In particular, it had requested an urgent response from the Board to questions regarding guarantees given for securitized loans made by the Intelco group of companies, in light of Intelco’s recent placement into receivership. The Committee also reports that it has agreed on a list of persons who will be asked to testify at upcoming public hearings and is inviting interested persons or firms to bid on a contract to carry out a special purpose audit of the SSB portfolio.