Preparednessdaily.com

Go to the source: The Market Ticker

See, municipal systems can go bankrupt…

Sept. 7 (Bloomberg) — An Alabama Circuit Court judge said he intends to appoint a receiver to manage Jefferson Countys insolvent sewer system.

Judge Albert Johnson said in court today in Birmingham that he will interview people for the position and decide on the receivers authority.

I have just one question for the Honorable Judge Johnson: Will you charge that receiver with authority to go after the banks that were in no small part responsible for this crap, as they were involved in the hinky derivative deals and bribery that led to this outcome?

Bettye Fine Collins, president of the Jefferson County Commission, said her biggest concern is that a receiver would impose an immediate increase in sewerage charges. The commission governs the county.

That is very likely to happen.

But what a receiver might also do, and in my opinion should do, is also file civil racketeering (treble damage!) suits against each and every organization involved in this scam.

That might wake a few of those big banks up….. an event that sorely needs to happen.