Tuesday, July 02, 2013
Shaky Market Delays Bridge Bond
A few weeks ago, Fed Chair Ben Bernanke announced plans to end a federal bond buyback program, and financial markets went nutz.
They do that every time he farts.
Noting that "there are times when you should step aside," Financial adviser Robert Fuller believes the market is stabilizing. If that does not happen, and interest rates continue to climb, County officials will scrap the refinancing portion of the bridge bond. But they still intend to bond $11.4 million for the bridge repairs and generators at Gracedale.
"These projects have to be done," noted Council member Scott Parsons. The County has identified 18 bridges in serious need of repair, and Hurricane Sandy last year left the nursing home without power after generators failed.