Brooks press conference summary
A reader tells us:
The press conference lasted only about ten minutes. But in that short time, she announced a new plan: Project SAVE. I have no hard numbers on this program, but it’s my understanding, based on her statements, it will gut a ton of money from the County Human Services department. That’s the department that handles public benefits. If my notes are correct (they were admittedly rushed), she is cutting $1.5 million from the Human Services Budget. All the usual suspects were present, except for Steve Minarik. Don’t worry, though. I’m sure he had his hand tickling those puppet strings.
Update: The D&C has more.
Related posts:
Through his Blackberry, I’m sure.
That Fitch Rating upgrade seems awfully suspicious to me. I wonder why these folks suddenly changed their minds. Is it because her administration suddenly provided them with her budget, based on the unFAIR scheme?
In other words, did Maggie send her budget to Fitch, and when they suddenly noticed that the county looked like it would be in much better shape financially in the years to come, they decided to bump up the credit rating (in part, because they are unaware of the legal status of her unFAIR scheme).
I.e. Is the whole reason she decided to release her budget plan before the election (when she didn’t have to), so she could also try to claim responsibility for improving MC’s county rating right before the election?
Is this just a continuation of the shell game?
Because Fitch Ratings is notoriously famous for making HUGE and COSTLY mistakes when upgrading ratings:
Credit rating agencies such as Fitch have been subject to criticism in the wake of large losses in the collateralized debt obligation (CDO) market that occurred despite being assigned top ratings by the CRAs. For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch.[1]
http://en.wikipedia.org/wiki/Fitch_Ratings
Let’s see how Moody’s rates the County…
Because Fitch Ratings is notoriously famous for making HUGE and COSTLY mistakes when upgrading ratings:
Credit rating agencies such as Fitch have been subject to criticism in the wake of large losses in the collateralized debt obligation (CDO) market that occurred despite being assigned top ratings by the CRAs. For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch.[1]
http://en.wikipedia.org/wiki/Fitch_Ratings
…They up’d the rating because of (UN)FAIR according to their press release. That combined with the increase in DMV fees, and college fees. I wonder what happens when they LOSE the lawsuit?
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20071030006618&newsLang=en
Well, there you have it. Now Maggie has even managed to tie independent analysts into this dirty scheme contrived by her cabal.
This whole situation is sooooooo insidious. I really hope that folks in the media are going to start digging into this issue themselves (before the election) and expose this whole machination for what it really is, a campaign strategy to get a bunch of lousy county legislators re-elected, so Maggie and co. can continue to operate without oversight and accountability.
Or, are those who ostensibly consider themselves to be watch dogs for our community going to just continue to allow these politicians to keep ripping us off without even providing a solid exposé on the situation (much less a bunch of equivocal endorsements in favor of the culpable incumbents) before this election is over!
[...] of you commented on the tidbit (from the D&C) that the FAIR plan will improve the county’s woeful credit [...]