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Ol >> bank run to the tune of 4 billion. >> what words would you use to describe the financial situation in jefferson county? >> hopeless. at this junk fuhr. >> hopeless? >> hopeless. >> jimmy stevens is jefferson countys district three commissioner. he was elected after the crisis began. >> how did it stop to go after the rails? >> they attempted to build a cadillac when a chevrolet would have worked as well. >> this is not a tale about cars but sewers and the sort of mess that seens to the sur...

Cant meet your financial obligations and the settlement that we had was getting farther he away instead of closer to us we had no choice. >> is it a cautionary tale for other counties across the country? >> absolutely is. you have got to live within your means. >> welcome back. lou dobbs from the fox business network. the president of assured guarantee said his company was going to be able to be fine even in the current environment. if there was a lot of defaults would it be like a domino effect...

And i think that ryan sort of fills that out for him. the flipside, of course, is what weve been talking about is how does it play out. mark has already talked about this could be a boon or a bust. thats going to tell the tale over the next few weeks. not before the convention, but when this thing really kicks off after the convention and guys like mark halperin -- >> helman, heilemann and halperin. >> right. >> and haberman. >> all of them start to really get serious about the questions. i thou...

Mentioned the polls, karen, and good afternoon to you. if you look at our latest poll, it actually shows that this race is in a dead heat so neither campaign is taking iowa for granted. that is for sure. it is true that the presidents energy policy i popular here. its true that the unemployment rate is far below the national average. when you talk to the folks who live here, when you read the newspapers, it really tells a slightly different tale. some folks here say they arent satisfied the pres...

Ol >> bank run to the tune of 4 billion. >> what words would you use to describe the financial situation in jefferson county? >> hopeless. at this junk fuhr. >> hopeless? >> hopeless. >> jimmy stevens is jefferson countys district three commissioner. he was elected after the crisis began. >> how did it stop to go after the rails? >> they attempted to build a cadillac when a chevrolet would have worked as well. >> this is not a tale about cars but sewers and the sort of mess that seens to the sur...

>> hopeless? >> hopeless. >> jimmy stevens is jefferson countys district three commissioner. he was elected after the crisis began. >> how did it stop to go after the rails? >> they attempted to build a cadillac when a chevrolet would have worked as well. >> this is not a tale about cars but sewers and the sort of mess that seens to the surface when local politicians with big ideas get mixed up with wall street bankers looking for big fees. a financial sinkhole in a swamp of corruption. it begin...

Pay up. we should work together. >> at a certain point when you cant meet your financial obligations and the settlement that we had was getting farther he away instead of closer to us we had no choice. >> is it a cautionary tale for other counties across the country? >> absolutely is. you have got to live within your means. >> welcome back. lou dobbs from the fox business network. the president of assured guarantee said his company was going to be able to be fine even in the current environment....

Government bankruptcy of all. $4 billion. it took some doing. greed, income p incompetentencd ol >> bank run to the tune of 4 billion. >> what words would you use to describe the financial situation in jefferson county? >> hopeless. at this junk fuhr. >> hopeless? >> hopeless. >> jimmy stevens is jefferson countys district three commissioner. he was elected after the crisis began. >> how did it stop to go after the rails? >> they attempted to build a cadillac when a chevrolet would have worked a...

Reinsured. so sewer bonds says the sins of wall street and corrupt politicians shouldnt let jefferson county off the hook. >> i didnt vote for that project, they did. >> what really steams federico is that they killed a deal that would have avoided bankruptcy. bond holders offered to forgive a billion dollars of the sewer debt if state lawmakers allowed the county to raise taxes to pay the rest. now, assured guarantee has to pay up. we should work together. >> at a certain point when you cant me...

Pay up. we should work together. >> at a certain point when you cant meet your financial obligations and the settlement that we had was getting farther he away instead of closer to us we had no choice. >> is it a cautionary tale for other counties across the country? >> absolutely is. you have got to live within your means. >> welcome back. lou dobbs from the fox business network. the president of assured guarantee said his company was going to be able to be fine even in the current environment....