I'm confused as to how to assess this story. 1 point argures that caveat emptor the other feeling is that the seller should have known better.... James Barker saw no way out. In September 2003, the superintendent of the Erie City School District in Pennsylvania watched helplessly as his buildings began to crumble. The 81-year-old Roosevelt Middle School was on the verge of being condemned. The district was running out of money to buy new textbooks. And the school board had determined that the 100,000-resident community 125 miles north of Pittsburgh couldn't afford a tax increase. Then JPMorgan Chase & Co., the third-largest bank in the U.S., made Barker an offer that seemed too good to be true. http://www.bloomberg.com/news/marketsmag/mm_0308_story2.html :eek: :eek: :eek:
Keep on voting Republican. It amazes me how few people really understand the neo-conservative agenda. Once they took over the US, everything turned into shit. Yet people just can't get enough of their agendas. Your next generations are going to be illiterate and poor once they're done with their agenda. And deservedly so.
Might there be at least a few Orange County's hidden in admist this mess? Sure sounds like it, especially if school districts can be convinced to speculate in derivatives.
Trade goes bad "How can you do this to the children?" Seller "I did it for my children, they need to eat too." Desperate people do desperate things, both sides of the coin. Stay away from desperate people.
Deane Yang, head of research at financial advisory firm Andrew Kalotay Associates Inc. in New York, says local officials are putting too much stock in financial advisers who are paid by banks--and in many cases are referred to schools by banks. "It's like trying to decide whether a used-car dealer is offering you a good price or not," ... School board members usually have a poor understanding of derivatives,.... We need to teach our kids more about finances so that they don't end up like those local officials or school board members.