Alabama county mulls bankruptcy; could be largest failure in history

Bankruptcy can be a scary decision, sometimes it can be a phenomenal relief. You can get a free evaluation from a local bankruptcy attorney by filing out an omline form at http://www.badcreditinfo.com/test.htm

I just knew that some idiots would blame Bush for this. Try the county officials.

let me rephrase that, the rich pay less taxes in that they give uncle sam back less of their income, but they pay the majority of taxes.

As I recall, the top tax rate was once 50%. Reagan reduced that to 28%. Clinton raised it back to 34%, and Bush put it back to 28%. All of these rates are higher than what the "middle-class" pay.

Obviously, 28% of $100 million brings in more money than 20% of $35,000. However, I do believe it is fair to say that the rich have much more left over after taxes to buy insurance, buy gas, buy food, send their kids to college and just pay their bills. I don't begrudge the rich their riches - they have this little problem I don't have of squeezing thru the "eye of a needle" to get to heaven. LOL

After 2 terms on the County Commission, the people elected Mary Buckalew to replace me. She teamed up with Gary White to put Larry Lankford in charge of the county government.
When I left the commission, the county was in excellent financial condition. Bond rating were either double A or triple A.
First thing the new commissioners did was to dole out money to each commissioner to go into their district and buy votes with that money and you have read some of the ways they did that. I guess the voters get what they vote for.

What these bible thumping repukes dont realize is that its republicans who drove jefferson county into bk not the liberals.. but then again repukes are more interested in soliciting in airport bathrooms and on the internet with their congressional pages than actually being responsible with their constituents tax dollars.

no more support to oil bushes-chenney!!!.......sorry oil giants, and army giants AMERICA IS MORE THAN THAT!!!!!!! ,not again for GOP because this means great OLD OLD and OLD party!!!!!!, but bush is not the only responsible for this recesion many of these are still in the senate waiting happily for their luxury retirement
and making hot dogs in their mansions. STOP THEM NOW!!!!!!!! you have the opportunity to change that vote for new and fresh people each time and be aware who of them are been re-elected for more than two times and sweep them
do 4 u ,4 your family n 4 your country.........no more cities go bankrupt!!!!!!!!!!!!!!!!!!!

american will not strive again untill they stop all the inporting from china and other countrys. we are making them rich while we go poor.. we need to fix it so that just so much importing can be done.. like cars.. we have our own companys to make cars... we dont need other countrys cars..

bmftioga
"The current problem is due to the ridiculous sewer system that was built, incorrectly, by a joke of a contractor, and had to be rebuilt."

Just to let you know how things work--the sewer system was not designed by the contractor.It is done by the city engineering dept or outside firms
or combination of both
The contractor who wins the bid follows the plans
he used to bid on..If it wasnt designed correctly,it is not the contractors fault
Of course if there were mistakes by the contractor that were covered up thats another story
The job is surpervised by city engineers along the way
Of course anything is possible but thats the way it goes

The Jefferson County Commission is controlled by Republicans.

It beggars belief that city councils would borrow money, issue bonds or other financial obligations for such large sums of money without proper legal advice on the risk involved.

It is quite clear that if they did obtain that legal advice they would have reasonably discovered the impact on their borrowings in an unstable volatile financial market.

They could now possibly seek redress against their legal advisors in negligence for allowing them to enter into such risky agreements on terms that indicate these loans were risky in the environment in which they were borrowed .

Risk analysis and the risk of the obligations they were entering into should have been a priority issue explained to the council by their advisors. It appears none of this may have occurred.