Editor,
In her July 21 story "Lehman lawsuit costs hefty" reporter Michelle Durand writes: "San Mateo County has spent more than $615,000 defending itself and former treasurer-tax collector Lee Buffington against accusations by a dozen school districts that irresponsible investment practices cost them $20 million."
I am curious about the absence of Sam Trans and the San Mateo County Community College District in this lawsuit. SMCCCD gambled with bond money and lost $25 million. Sam Trans lost $25 million in public transit improvement project funds.
How about the school districts? Did they try to leverage committed assets? Was bond money involved? How much?
Selling bonds before the money is needed, and investing proceeds in high yield (high risk) securities borders on criminal activity. We need to defend those borders.
Jack Hickey
Emerald Hills
Please purchase a Premium Subscription to continue reading.
To continue, please log in, or sign up for a new account.
We offer one free story view per month. If you register for an account, you will get two additional story views. After those three total views, we ask that you support us with a subscription.
A subscription to our digital content is so much more than just access to our valuable content. It means you’re helping to support a local community institution that has, from its very start, supported the betterment of our society. Thank you very much!
Only subscribers can view and post comments on articles.
Already a subscriber? Login Here
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
(0) comments
Welcome to the discussion.
Log In
Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.