Mike Shedlock, who has been watching the Jefferson County, Alabama, municipal bond bankruptcy and default closely, has turned up some more fraud. It appears that the original bonds issued to pay for the county’s new sewage treatment plant weren’t bonds after all, but warrants. But they were sold as the same thing, backed by the “full faith and credit” of the county. In the event of bankruptcy investors holding the warrants were to be first in line to receive their interest payments, ahead of any other creditors. And if there isn’t enough money even for that, the investors were assured that the county would do whatever is necessary to redeem them, even if it meant raising taxes or fees on the citizens.
The drug cartel war moves into the U.S.
On Monday, November 21st, D.E.A. agents in unmarked cars were discreetly following a large chemical tanker truck carrying 300 pounds of concealed marijuana as they monitored a "controlled delivery" — a law enforcement trap for drug smugglers. Suddenly, in a secluded area of suburban Houston, at least three vehicles rapidly approached the truck, and several members of Los Zetas, a dangerous Mexican drug cartel, jumped out of the vehicles, "yanked open the passenger cab door and repeatedly shot Chapa [the truck driver], whose hands had been raised in the air," tossed his body to the street, and may have been about to drive off with the truck, when dozens of D.E.A. agents and local law enforcement converged on the scene, killed one member of Los Zetas, and arrested four others. Something had definitely gone wrong with this controlled delivery.
A state Governor and her appointees obstruct an investigation into repeated coverups of child rape. When they find they can no longer stave off the inevitable, they destroy the evidence. Along the way they try to have the prosecutor disbarred. The Governor later becomes a member of the President’s Cabinet.
Renewing a tune it has sung over the past few years, the federal National Transportation Safety Board (NTSB) is once again proposing a nationwide ban on drivers texting and using cellphones.