Detailed text transcripts for TV channel - FOXNEWS - 20120808:10:18:00
105 million. where did they go? >> they borrowed a 105 million. they did it for going for a capitol appreciation bond. forget the jargon. they borrow 105 million. they will have to pay back 981 million by the year 2051 so they spread it out over 40 years and they will end up paying 980 million back for borrowing 105 million now. >> brian: it is like a loan shark . >> it is. it is a special kind of bond that the school district went to in sheer desperation. others have done it you drop a bomb that explodes 20 years from now that the loan has to be repaid. this is california finance and the chao...
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