[dynachrome]

Sell bonds for road repair and then use the proceeds for union pensions? welfare? what ever?

What could go wrong?

[Revel]

This has to be highly illegal since the investors where investing in a specific use.

[pingman]

This has been brewing for awhile, and is finally coming to a head. The ‘stimulus’ $$ is gone, and they kept spending like it was 1999.

[Truth29]

Fines and orders to repay the funds won't stop this type of malfeasance. Individual municipal officials need to go to jail if there is to be any real change.

[Eleven Bravo 6 319thID]

Is there no person in government in this country with any common sense and integrity? How could not understand that it is wrong to lie to people from whom you are borrowing money about what that money is to be used for?

[elkfersupper]

That is a purposeful default.

Whichever goofball law firm is bond counsel on these deals should intervene right now.

Waiting,,,,,,,,,,(crickets).

[castlegreyskull]

Oddly, the article mentions Miami. Miami is the city that just spent nearly 500 million dollars on a baseball stadium. I cannot imagine why they are broke.