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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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