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Detailed text transcripts for TV channel - FOXNEWS - 20120812:19:36:00

original debt service represented $2.4 billion. 98% of that was fixed debt and investment bankers said we can go to a variable rate interest and add derivatives to that to synthetically make that lower. the new instruments that wall street had generated were so complicated that the average person even the finance person could not understand it. tony patellas is the jefferson county manager. he said those instruments exploded jefferson county s debt without any one realizing. it we were overextended by 85% and the folks that insured our bonds should have known better. when the market crashed in 2008 jefferson s bonds dropped to junk, allowing lenders to demand payment in full. they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. ....

Investment Bankers , Debt Service , 2 4 Billion , 4 Billion , Tony Patellas , Wall Street , Jefferson County , 4 Billion ,

Detailed text transcripts for TV channel - FOXNEWS - 20120811:07:37:00

Could not understand it. tony patellas is the jefferson county manager. he said those instruments exploded jefferson county s debt without any one realizing. it we were overextended by 85% and the folks that insured our bonds should have known better. when the market crashed in 2008 jefferson s bonds dropped to junk, allowing lenders to demand payment in full. they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. did wall street really take jefferson county for a ride here? i leave they did. a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. we had 21 people that either plead guilty or went to prison. commissioners, employees and ....

Jefferson County , Tony Patellas , Wall Street , 4 Billion , Criminal Investigation , Sewer Deal ,

Detailed text transcripts for TV channel - FOXNEWS - 20120811:05:36:00

When it became clear the county wouldn t be able to make the payments on its bonds officials went back to wall street looking to refinance. original debt service represented $2.4 billion. 98% of that was fixed debt and investment bankers said we can go to a variable rate interest and add derivatives to that to synthetically make that lower. the new instruments that wall street had generated were so complicated that the average person even the finance person could not understand it. tony patellas is the jefferson county manager. he said those instruments exploded jefferson county s debt without any one realizing. it we were overextended by 85% and the folks that insured our bonds should have known better. when the market crashed in 2008 jefferson s bonds dropped to junk, allowing lenders to demand payment in full. ....

Investment Bankers , County Wouldn T , Wall Street , Debt Service , 4 Billion , 2 4 Billion , Jefferson County , Tony Patellas , Doesn T ,

Detailed text transcripts for TV channel - FOXNEWS - 20120811:02:36:00

When it became clear the county wouldn t be able to make the payments on its bonds officials went back to wall street looking to refinance. original debt service represented $2.4 billion. 98% of that was fixed debt and investment bankers said we can go to a variable rate interest and add derivatives to that to synthetically make that lower. the new instruments that wall street had generated were so complicated that the average person even the finance person could not understand it. tony patellas is the jefferson county manager. he said those instruments exploded jefferson county s debt without any one realizing. it we were overextended by 85% and the folks that insured our bonds should have known better. when the market crashed in 20 jefferson s bonds dropped to junk, allowing lenders to demand payment in full. ....

Investment Bankers , County Wouldn T , Debt Service , Wall Street , 2 4 Billion , 4 Billion , Jefferson County , Tony Patellas ,

Detailed text transcripts for TV channel - CNN - 20100304:18:47:00

Don t know where it comes from and how much will be paid for by decreased insurance premiums. i think he s saying it will come from the $2 trillion. there are about $500 million that is coming from efficiencies that the bill is preparing for medicare and other sort of federal spending. there are fraud, waste, and abuse that could be cut down. both parties agree on that, and on top of that they want it to accomplish the lowering of health costs over time and they ve got a lot of experimental programs in there that would basically be delivery system reforms, and other efficiencies in the system. so, hopefully those will all work out. however, this is where the cost estimates are very conditional. even if the the cbo comes out and gives the exact same numbers that they gave for the senate bill, we still don t know if that s true. not because the cbo is necessarily wrong, but because the realizing of those numbers will depend a lot on political will. will the lawmakers actually stick t ....

Don T , 500 Million , 2 Trillion , 00 Million , Health Costs , Broadview Security System , Cost Estimates , Work Out , Delivery System Reforms ,