Thursday, August 23, 2012

BOJACK!

 The big news in the Tri-Met bond sale, of course, is how big it is. Even leaving aside the hanky-panky that government agencies go through when telling you how much debt they're taking on, Tri-Met's long-term borrowings just went up from $308.4 million to $401.7 million -- a 30 percent increase. And all of its payroll tax revenue is mortgaged to pay off the banks and other bondholders, who get first dibs over all other creditors.
Has Clackamas County been hustling MAX bonds illegally? 
Multi-modal misery
All aboard for Epic Fail

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