The New York City Department of Investigation yesterday blasted city Comptroller Elizabeth Holtzman as "grossly negligent" for her office's appointment of Fleet Securities as a city bond underwriter after her U.S. Senate campaign received a $450,000 loan from the firm's banking affiliate.

The report, released after Holtzman's second-place finish Tuesday in the Democratic primary for city comptroller, strongly criticizes Holtzman for failing to determine that Fleet Securities was seeking bond underwriting business with the city before her campaign office sought a loan from Fleet Bank.

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