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Alabama county readies for biggest bankruptcy in US history
drudgereport.com/ ^ | 7/26/2011 | http://drudgereport.com/

Posted on 07/26/2011 11:52:51 AM PDT by dragnet2

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To: napscoordinator
This happening in a Red state is PITIFUL and DISGUSTING!

Watch for this to occur everywhere. Government at all levels spends too much, hires too many, pays their employees too much, becomes more restrictive and punitive and mismanages everything they touch.

41 posted on 07/26/2011 4:39:42 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: napscoordinator
I do not understand how you are putting the Jefferson County mess which was building for many year onto a governor who has only been in office for six months. The governor has nothing to do with it.

On the other hand, the formerly democrat legislature DID have a lot to do with it, but we changed that in the 2010 election. We now have a Republican majority for the first time in over 130 years.

42 posted on 07/26/2011 4:44:49 PM PDT by 6ppc (It's torch and pitchfork time)
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To: 6ppc

I think that is excuses. That is as bad as President Obama blaming the last administration for the recession. It is the exact same thing. That is the problem with government. Nobody wants to take responsibility for anything.


43 posted on 07/26/2011 5:31:15 PM PDT by napscoordinator
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To: dragnet2
the automated system has been taken out of service because of the budget

If they had the skills, it could be supported by setting up an Asterisk server.

44 posted on 07/26/2011 6:10:40 PM PDT by glorgau
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To: dragnet2

Loan payments skyrocketed because of increasing interest rates as global credit markets struggled,


No, I suspect the interest rates increase because you were a higher risk...........................


45 posted on 07/26/2011 6:23:21 PM PDT by PeterPrinciple ( getting closer to the truth.................)
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To: PeterPrinciple

lol


46 posted on 07/26/2011 7:28:49 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: dragnet2

This is the city in which I was born. Of course, back then (1940), it was quite prosperous and not corrupt. It was a pleasant city in which to grow up. I was told that one could go downtown in the wee hours of the morning and not worry about being assaulted. The city’s inhabitants and the police were that good.

Then, things changed, and not for the better.


47 posted on 07/26/2011 7:35:17 PM PDT by OldPossum
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To: JerseyHighlander

I’m sure all these dimwit hacks were bribed but you are correct. Who was bribing them? Ultra-scummy bond salesmen at JP Morgan. I think I read that Goldman Sachs was participating too but Morgan paid them off to go away

Blame Wall Street not just the idiot hacks who were bamboozled by them


48 posted on 07/26/2011 7:40:30 PM PDT by dennisw (NZT -- works better if you're already smart)
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To: OldPossum

This is the city in which I was born. Of course, back then (1940), it was quite prosperous and not corrupt.>>>>>>>>

It was prosperous due to Steel. Steel is gone. Everyone black or white could get work back then.


49 posted on 07/26/2011 7:43:35 PM PDT by dennisw (NZT -- works better if you're already smart)
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To: Presbyterian Reporter
How is this bankruptcy good?


Bankruptcy is good in that it is the system correcting it self. Unfortunately there are winners and losers in the process. Prepare to see more of this. It does make all creditors wiser - I speak from experience.
50 posted on 07/26/2011 7:44:13 PM PDT by PeterPrinciple ( getting closer to the truth.................)
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To: GOYAKLA

You left for the tornado alley within tornado alley. Heads up!


51 posted on 07/26/2011 7:45:44 PM PDT by del4hope
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To: mtnwmn

Sounds good. I will call you if we need it. :-)


52 posted on 07/26/2011 7:47:04 PM PDT by del4hope
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To: dragnet2

has been trying to avoid filing bankruptcy since 2008.


No one wants to make the tough decision although they all see it coming....................


53 posted on 07/26/2011 7:58:06 PM PDT by PeterPrinciple ( getting closer to the truth.................)
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To: tcrlaf
A Black Democrat run city for over 4o+ years, if I recall. The consept that “Elections have consequences”, is proven yet again

I seem to recall basically a white government during Bush's 8 years that literally rolled out the red carpet for tens of millions of illegal aliens, during war time no less.

This has choked off our hospitals, jails, social services, schools, health-care, created epic fraud, crime etc,....all on the backs of the tax payers...

ENLIGHTEN ME... What does that have to do with 40 years of Black Democrat corruption in Birmingham?

You need to ask this?

It's the same types of leftists, the same exact type of government corruption that forces all Americans in *all* counties to subsidize illegal aliens, while they choke off your health-care, jails, schools, social services, hospitals etc.

These figures below have likely tripled...

_________________________________________________________

Birmingham Business Journal February 9, 2007

Illegals raise county’s health costs

Cooper Green Hospital has spent $6.7 million in uncompensated health care for undocumented immigrants over the past 16 months.

From September 2005 to September 2006, some 7,700 illegal immigrants visited the hospital, according to Cooper Green officials.

Jefferson County’s safety-net hospital assumed $5 million in uncompensated charges from those visits. In the first quarter of fiscal year 2007, which ended Jan. 31, Cooper Green incurred $1.7 million in uncompensated care losses from 2,700 visits from undocumented immigrants.

Ya getting enlightened yet?

54 posted on 07/26/2011 9:55:46 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: dragnet2
$6.7mm represents less than one-fifth of one percent of the $3.2B of funds under discussion.

I repeat: illegal immigration has had no meaningful impact on this situation.

And, please elaborate: who exactly are "people such as" me? Do you mean those of us who are familiar with mathematics? Or do you mean those of us who prefer to analyze news items on the underlying facts as opposed to those who prefer to shoehorn any and all stories into their pet narrative?

55 posted on 07/27/2011 3:23:09 AM PDT by wideawake
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To: napscoordinator

Ok. I give up. You have no clue about politics in Alabama and you obviously have no interest in the opinion of a life long citizen of Alabama. Fine...blame it on the governor.


56 posted on 07/27/2011 5:58:58 AM PDT by 6ppc (It's torch and pitchfork time)
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To: 6ppc
He engineered a swap of fixed rate bonds for variable interest bonds which wound up resetting to a much higher rate.

That's deadly! Any idea how much that brain child move cost the county?

57 posted on 07/27/2011 6:03:26 AM PDT by SoftballMominVA
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To: SoftballMominVA
Don't know the actual numbers, but I know the reset came just as the 2008 financial mess was happening. Jeffco wound up with dropping revenues just as the rate reset caused greatly increased interest expense. At that point it was all over except the lawsuits.

Regarding Larry Langford...I think of him as a small time version of Jamie Gorelick. Everywhere he goes he leaves a path of destruction. Mayor of Fairfield, ramrod behind Vision Land, president of the Jefferson County Commission and Mayor of Birmingham, leaving nothing but waste and devastation in his wake.

I am thankful every day that I live in Shelby County and that I'm on septic tank. Around Birmingham the realtors include septic tank as a selling point on for sale signs.

58 posted on 07/27/2011 6:26:55 AM PDT by 6ppc (It's torch and pitchfork time)
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To: dennisw

With reference to your post 49 to my post, I don’t know whether you are simply adding to the info or bringing me up to speed. Of course, I knew what created its prosperity and what took that prosperity away. Heck, the famous Sloss Furnace was no more than two miles from where I grew up (to age 10).

I am also cognizant of what “sociological” factors destroyed the city’s reputation. And I was making an oblique reference to them in my post.


59 posted on 07/27/2011 3:40:28 PM PDT by OldPossum
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To: OldPossum

My post was for anyone. These days there are a lot of people who don’t know that Birmingham Alabama was a great prosperous steel town. Same for Bessemer Alabama

Back in those glory days Birmingham would never have been bamboozled by sleazy bond salesmen


60 posted on 07/27/2011 3:50:12 PM PDT by dennisw (NZT -- works better if you're already smart)
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