Friday, May 23, 2008
A Municipality Funding Story Gone Bad - Quite A Sad Read Actually
Bloomberg News: JPMorgan Swap Deals Spur Probe as Default Stalks Alabama County
May 22 (Bloomberg) -- As nighttime temperatures plunged in Birmingham, Alabama, last October, Dora Bonner had a choice: either pay the gas bill so she could heat the home she shares with four grandchildren, or send the Birmingham Water Works a $250 check for her water and sewer bill.
Bonner, who is 73 and lives on Social Security, decided to keep the house from freezing.
``I couldn't afford the water, so they shut it off,'' she says.
Posted by yt1 @ 11:36 AM (289 views) Add Comment
1 Comment
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1. it_is_going_with_a_bang said...
"Jefferson County was so enthusiastic about its sophisticated debt management techniques"
Rule No.1 : If it looks too good to be true it's usually a load of bulls***.