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municipal bonds

Sandy Springs Georgia: The City That Outsourced Everything

Andy's picture
Fri, 04/22/2011 - 11:12am -- Andy

[[wysiwyg_imageupload:2199:]]The people of Sandy Springs grew tired of being taxed up the yin yang while having no say on how local tax dollars were spent.  They split from their previous county, and used private industry to doing everything that we expect municipal governments to do:  pick up trash, pave streets, maintain parks, etc...What did they find?  Private industry has maintained the same services at half the cost!

Since they reincorporated as their own city, Sandy Springs has been able to run with no increase in taxes, and the city is flush with cash.  Within the past five years, four other smaller cities in Georgia are following the lead of Sandy Springs. Let's put the public unions on notice.

A Municipal Score Card

Thu, 02/24/2011 - 7:45am -- editor
Site Section: 

By Fred Sheehan

Meredith Whitney has kicked up a storm with her 600-page, municipal-bond report. She was one of the first analysts on Wall Street who warned the banks were going to topple well before they toppled. (Standard & Poor's downgraded Bear Stearns three notches - to BBB - on March 14, 2008, two days before J.P. Morgan acquired Bear's carcass.) Whitney told 60 Minutes on December 19, 2010: "You could see...50 to 100 sizable [municipal] defaults.... This will amount to hundreds of billions of dollars' worth of defaults." The municipal bond CABAL (issuers, fund managers, analysts, the municipalities) denounced Whitney and her predictions.

Bondholders Left in the Dark

Andy's picture
Wed, 01/26/2011 - 8:31am -- Andy

Investors and regulators are growing increasingly concerned about the quality and timeliness of information that state and local governments are disclosing about their finances. The Securities and Exchange Commission is inquiring about public statements Illinois made about its pension funds amid the agency's increased scrutiny of the municipal-bond market, a representative for the governor said.

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