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Technology Stocks : Stock Swap
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To: SE who wrote (15910)11/27/1998 12:48:00 PM
From: Patrick Slevin  Read Replies (1) of 17305
 
I think the states can do whatever they want; states rights and whatnot.

If you look at the muni-bond market there are bonds from NY, NYC, NJ, CA (I believe) and so on. This is all debt.

Jersey has 14 billion of debt in the form of muni-bonds. Stuff that the taxpayers are responsible for. Christy Whitman & Company are upbeat on the ability of the state to pay this off. It comes to something like 15 or 16 hundred dollars a person.

That may not seem like much but there are 5 people in my family, so I owe 75, 80 hundred...then there is the guy who is out of work and I get a piece of his and so on.

The Whitman line is that Wall Street thinks NJ is A-OK with regard to debt. This in and of itself raises a red flag to me. If Wall Street thinks it's great what are the odds it isn't?

Pretty darn good, I think. If for no other reason that the end-guys on the responsibility list include myself. Sort of, "The Buck STARTS here".
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