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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: NOW who wrote (209054)12/11/2002 2:34:38 PM
From: reaper  Read Replies (4) of 436258
 
are entering relatively safe contracts that do not make bets with public money, but are contracts that essentially lower interest rates on outstanding municipal bonds.

Kapil Bhatia, debt finance manager with Hillsborough County, converted $264 million of the county's fixed-rate long-term debt into short-term floating-rate securities this year, saving the county $12.1 million.

friggin' beautiful. these aren't high risk, they're SAFE. i mean, what in the world could possibly go wrong if you turn a long-term fixed liability into a short-term variable one <g>

farking morons these people are. hard to believe we almost elected one as our governor.

Cheers
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