Wednesday, April 08, 2009

pinions of buddy don: ifn tennessee is on the frunt page of the ny times ...

... then taint lackly to be good news, lessn tiz about them lady vols. todays ny times aint no different, witch it has a articull name of Firm Acted as Tutor in Selling Towns Risky Deals:
LEWISBURG, Tenn. — Five years ago, this small factory town was struggling to pay the interest on a bond for new sewers. Bob Phillips, Lewisburg’s part-time mayor and full-time pharmacist, was urged by the town’s financial adviser, an investment bank named Morgan Keegan & Company, to engage in a complex financial transaction to lower interest rates.

When a Lewisburg official attended a state-sponsored seminar intended to lay out the transaction’s benefits and risks, he was taught by investment bankers from Morgan Keegan.

And when Lewisburg decided to go ahead with the transaction, who was there to make the deal? Morgan Keegan.

In January, local officials were shocked to discover that annual interest payments on the bond had quadrupled to $1 million. Morgan Keegan, they said, did not serve them well in any of its roles.
dont that jes beat all? sum of the wurst news is how them industries is movin out of tennessee, witch the menchun of sanford pencils moving to mexico is a prime eggsample. jes brakes yer hart that these jobs trickle down to other cuntries (on a counta trickle down always means jobs fer them that wurks fer the least money, no matter whuther tiz in this cuntry or sum othern).

1 comment:

Anonymous said...

Not sure how your attempts at the local vernacular are intended as humor. I'm guessing that the gist of the story is the town trusted the experts, i.e. Morgan Keegan to serve their interests, when in reality, Morgan Keegan served only it's own interests.