Remember those no interest home loans that caused the financial meltdown?

[Capt Worley PE]

Last year the Poway Unified School District made a deal: It borrowed $105 million from investors to fund a final push in its decade-long effort to revamp aging schools.

In many ways, the deal was unspectacular. Some of the money was used to pay off previous debts from delayed and over-budget construction projects. The rest went towards finishing upgrades that Poway taxpayers had been promised as far back as 2002. To a casual observer, it was just another school bond.

But Poway Unified’s deal was far from normal.

http://www.voiceofsa...1a4bcf887a.html

 

[benbo]

THey should have just gone to oneof those pay-day loan places, or better yet the mob and pay the vig.

 

[Master slacker]

:spit:

That sinking ship called "California" is sinking faster and faster.