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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (443244)	12/30/2008 8:44:58 AM
From: Road Walker	Read Replies (2) of 1576336

re: Florida’s option agreement that would have compelled Buffett to buy $4 billion of bonds to finance storm recovery will expire Dec. 31, Dennis MacKee, a spokesman for the State Board of Administration, said in an interview today. The state earlier paid Buffett $224 million in return for his commitment to buy the debt if needed. The calm season meant Florida had no need to raise the money. Interesting. FL already has a huge hole in the budget and a lot of the most risk prone areas are primarily insured by the state. A really big hurricane in Tampa or Miami could send the state into BK. Florida really needs a few more years without a major to build up the cat funds. Seems 'un-Buffet' to bet on the weather???

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