Jefferson County, Alabama narrowly avoids bond default- al.com
With the Commission’s Supreme Leader Bettye Fine Collins mysteriously absent, the two white guys voted to give the banks $4 million as an interest-only payment on the debt. Shelia Smoot (Smoot!) voted no, and the temp abstained. The county apparently has forbearance agreements with the banks, just like me and my student loans. I can tell you, that really worked out great. You really don’t want to pay down the principal if you can avoid it. Right?
2 responses so far ↓
edward // April 2, 2008 at 7:34 am
i own tons of these bonds i purchased from my broker as municipal auction rate securities.
are there any class action law suits i could join
Mac Thomason // April 2, 2008 at 8:04 am
I’m sure there will be.