Bond-Investment Plan Is Insane Economics
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Re “Bond Plan Called Risky,” Sept. 12:
“Risky”? I think they’re insane! However, I would like to know where the county can borrow $300 million at 5.85% after a bankruptcy. And then to invest it in something as precarious as the stock market. The regular Joe who has filed bankruptcy can’t get credit at 5.85%; for at least 10 years they’re penalized, unable to qualify for anything less than 16%, 20% or 22%.
When will American taxpayers realize they live in a house of cards? Our politicians care only about the short term. Our economic, foreign and environmental policies prove this.
Alyson Michie
Newport Beach
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