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Corruption and incompetence can not be bailed out--it needs to be cut off.
"The embattled government of Harrisburg, Pennsylvania's capital will avoid default on a $3.3 million bond payment this week because of $4.4 million in last-minute state aid. Of the last-minute state aid, half a million dollars are considered a loan and must be repaid.
With Harrisburg's city council scheduled to meet Tuesday to explore filing for bankruptcy, Gov. Ed Rendell announced Sunday that he was speeding up state funds and grants to the financially-strapped capital."
Democrat Redell will be borrowing the money to save the bond holders. Pennsylvania is also billions in debt. The bankrupt leading the bankrupt.
The bond holders should have known how better to lend money to a fiscally irresponsible.
We need to be careful that this is not done in California. It may be hard, but bankrupt cities need to face the music--why bring down other cities?
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"The embattled government of Harrisburg, Pennsylvania's capital will avoid default on a $3.3 million bond payment this week because of $4.4 million in last-minute state aid. Of the last-minute state aid, half a million dollars are considered a loan and must be repaid.
With Harrisburg's city council scheduled to meet Tuesday to explore filing for bankruptcy, Gov. Ed Rendell announced Sunday that he was speeding up state funds and grants to the financially-strapped capital."
Democrat Redell will be borrowing the money to save the bond holders. Pennsylvania is also billions in debt. The bankrupt leading the bankrupt.
The bond holders should have known how better to lend money to a fiscally irresponsible.
We need to be careful that this is not done in California. It may be hard, but bankrupt cities need to face the music--why bring down other cities?
More...