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Tuesday, December 4, 2007

Tax dollars disappearing

Wow, the crisis in the debt markets is adversely affecting local governments from Florida to Norway. So many taxpayer investments have gone sour. Are there government entities in Oregon in the same boat? I haven't heard that there are, but despite my general belief in miracles, I doubt that all the political subdivisions around the state are going to get away unscathed.

Comments (6)

Sheeesh! Please don't tell Teddy and the P Team as they need a good surprise.

And its gonna be a dandy!

If we find out, it wont be until the deal is totally beyond redemption. Finance managers work the same in the public/private sector and like to hide their mistakes.

Unlike the private sector, however, I think that the government investment managers are obligated to respond to FOIA requests.

$afe and $ound
Are you disappointed?

The fact that they're not in SIVs doesn't necessarily mean they're not being pounded by subprime and its fallout. Carefully worded denials don't do much for me.

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