Two Plus Two Newer Archives  

Go Back   Two Plus Two Newer Archives > Other Topics > Politics

Reply
 
Thread Tools Display Modes
  #1  
Old 12-01-2007, 08:18 AM
The once and future king The once and future king is offline
Senior Member
 
Join Date: Aug 2004
Location: Iowa, on the farm.
Posts: 3,965
Default Florida Schools Struggle to Pay Teachers Amid Freeze

Surprised no one has mentioned this.

[ QUOTE ]
``The unthinkable and the unimaginable have just happened here in Florida,'' said Hal Wilson, chief financial officer of the Jefferson County school district, located 30 miles (48 kilometers) east of the state capital Tallahassee. ``What we just experienced here is a classic run-on-the bank meltdown.''

Florida's State Board of Administration, manager of the Local Government Investment Pool, halted withdrawals yesterday at an emergency meeting after $13 billion was pulled out this month from participants. Governments from Orange County, home of Disney World, to Pompano Beach asked for their money back following disclosures that the fund held $1.5 billion of downgraded and defaulted debt.

[/ QUOTE ]

State investment plan is suspended.
Reply With Quote
  #2  
Old 12-01-2007, 11:37 AM
ConstantineX ConstantineX is offline
Senior Member
 
Join Date: May 2006
Location: Like PETA, ride for my animals
Posts: 658
Default Re: Florida Schools Struggle to Pay Teachers Amid Freeze

I had read this, I had no idea it involved the immediate payrolls of schools though. It's pretty opaque though as to what exactly the fund was invested in; perhaps I'm naive but I would have that the sort of banks/credits overseeing the funds would "guarantee" these SIVs and bail them out by assuming any losses on their balance sheets for reputation.
Reply With Quote
  #3  
Old 12-01-2007, 11:45 AM
canis582 canis582 is offline
Senior Member
 
Join Date: Jan 2005
Location: 1c-2c PLO8
Posts: 3,314
Default Re: Florida Schools Struggle to Pay Teachers Amid Freeze

I don't have any experince investing other people's money, but this looks pretty easy. Invest in A AA and AAA. Muni bonds etc.
Reply With Quote
  #4  
Old 12-01-2007, 02:29 PM
tomdemaine tomdemaine is offline
Senior Member
 
Join Date: Feb 2005
Location: buying up the roads around your house
Posts: 4,835
Default Re: Florida Schools Struggle to Pay Teachers Amid Freeze

Odds that the bureaucrats are still getting paid?

It's so predictable, their running out of money so they cut frontline services rather than the huge waste than goes on up the chain. Then it's all oooh we need more of your money won't somebody think of the children? And the extra money gets spent on more wasteful teat sucking bureaucrats.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 11:42 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.