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Thursday, February 16, 2012

Swaption Still at $25.4 Million

In January, county financial advisers asked Council to designate two members who would have authority to "pull the trigger," i.e exercise the County's costly swaption when the time is right. Council member Lamont McClure, sure there must be some other solution, asked Council to get another opinion.

Since that time, McClure has taken no action, at least nothing that complies with the Sunshine Act. But unlike McClure, the swaption has gone down, and now is on its way up again.

Acting fiscal Affairs Director Doran Hammon told Council's Finance Committee last night that the swaption is currently at $25.4 million.

McClure was absent.

Tonight, John Stoffa will parade his financial team before Council again. Maybe McClure can get his second opinion by asking them to repeat what they said in January.
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7 comments:

  1. AnonymousFebruary 16, 2012 at 1:56 AM

    He had a chance at $9 million and blew it. It meant making a decision and that was a no no.

    ReplyDelete
  2. AnonymousFebruary 16, 2012 at 6:15 AM

    unfair to lay this at lamont's feet

    ReplyDelete
  3. AnonymousFebruary 16, 2012 at 7:21 AM

    Bet RON ANGEL had all the answers when it was at 5 or 9 or 11 or 15 but he chose to do nothing... Now he shows up at the meetings and demands of the council "what are you going to do?" Amazing

    ReplyDelete
  4. AnonymousFebruary 16, 2012 at 7:28 AM

    "unfair to lay this at lamont's feet"

    Agree. He's never there and likely had/has no idea what's going on with county finances. Can't blame Lamont.

    ReplyDelete
  5. Issac TouroFebruary 16, 2012 at 8:00 AM

    council chambers will be full of pointing fingers and pure dumbass tonight

    ReplyDelete
  6. AnonymousFebruary 16, 2012 at 11:52 PM

    People just remember John Stoffa took office in Jan 2006. He could have done anything from paying it to restructure from that point forward. He let it lay and wasn't minding the store. He owns this disaster now!

    ReplyDelete
  7. AnonymousFebruary 17, 2012 at 7:37 PM

    11:52, you are right on the money! Stoffa owns this disaster. he can no longer cry it's not my fault.

    ReplyDelete

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