Monday, August 15, 2011

Wall Street banks fleece Alabama county government

... and this probably is not an isolated incident, from Rolling Stone (April 15, 2010). The story is intricately detailed, but well worth reading. In fine, it tells the story of how JP Morgan bribed (literally!) and temporarily bankrupted a county government paying interest and other charges for a capital improvement that got dubbed the "Taj Mahal of sewage treatment plants." And in the end, what the county employees and taxpayers got was the, uh, sludge.

I just thought I would throw this in as another example of the Eastern Establishment looting Main Street...

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