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Posted By mozzer 1 year, 4 months ago in Business & FinanceBIRMINGHAM, Ala. (AP) Alabama's largest county appears headed for the biggest municipal bankruptcy in U.S. history, a $3.2 billion mess created by the nation's credit crunch and a colossal, corruption-riddled sewer project.
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sonofjohn1 year, 4 months ago
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You get what you vote for. Apparently the Alabama county voters keep electing crooks and people who are not too smart. Granted they were burdened by the sewage project, but the officials took what on the surfaced looked like a sweet loan deal and didn't think about the consequences of balloon payments instead of a fixed rate. Short term thinkers for long term projects plus the corruption doomed them.
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