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View Diary: Wall Street is Doing it Again: The Looting of America Continues (128 comments)

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  •  nah... there's a wild swing in the rates (2+ / 0-)
    Recommended by:
    elwior, CA wildwoman

    from these capital appreciation bonds. What should be 2 to 3 times the principal amount is anywhere from 9 to 16 to 23 times the original amount borrowed. Zero coupon bonds? Inflation indexed? Gah...

    So CA and TX and OH are paying rates locked in TODAY that are comparable to Slovenia and South Africa and Ireland... higher than Portugal and Spain... and not far from Greece's rate.

    And no taxes paid on those billions and billions in interest by the banks and private financial entities issuing these bonds.

    And voters are totally unaware of the details of the bond measures they passed.

    Michigan has outlawed these bonds.

    CA and TX and OH otoh are playing with fire.

    Talk about people absolutely hating teachers... the superintendents of these school districts should be horse whipped and tarred and feathered.

    One may live without bread, but not without roses.
    ~Jean Richepin
    Bread & Roses

    by bronte17 on Fri Feb 01, 2013 at 10:37:42 AM PST

    [ Parent ]

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