California Schools Taking out CAB loans

[ECM]

thranx said:

Kasz216 said:

Eh, they'll default, and they'll replace those school districts with new ones... the lawyers will have a hell of a time repossessing anything of value, since I think the buildings would still belong to the state. Not the school district. (I could be wrong on this.)

Or their city/state governments will just pass laws telling the lenders to go to hell.

Or the school districts will get bailed out.

Those are the three options. Really if anything i'd say the people who lent to them were taking the big risk.

 

They'll probably go with the first option too, because I don't think you can legally tie the state or county to something the school board decided.  If it wasn't California i'd say the state would probably use it to union bust, but it is, so that probably won't happen.  They MAY force the teachers to be rehired and take a paycut.  Though even then the teacher union probably won't go for it.  So it'll probably  just be all the same, but different name.  Different school board.

That does make the most sence. I currently live in California, and it amazes me how bad our state government has been, and we keep re electing the same people over and over. The business climate is horrible, a lot of regulation for everything, and a lot of corruption in local city and county governement.

 

 

@richard

California is currently being completly run by democrats, and before that is was always majority democrat so i do not see how the republicans or conservatives are the issue. If anything it is the over regulation and over taxation of residents and businesses that are casuing problems for the state. There is a very well off region that passes regultions that all of CA have to follow that don't neccissarily benefit all Californians.

I left Cali 5-years ago because of the bolded. 

It's a real shame: amazing state ruined by its own people who can't seem to grasp that money does not grow on trees and that people like me are not going to stick around and be stuck with a bill for insanely profligate spending that goes to everything except the people that are actually paying most of the taxes*. (Which is ironic because if Cali folds, we'll ALL end up paying for it because we lack the political will to tell Californians to live with their own, awful decisions.)

*Of course the middle class in Cali is the one that caused a huge portion of this mess, so I have virtually no sympathy for them, either.

And seriously: LMAO at the notion this was a Republicn or conservative-caused problem. I mean, seriously, how little do you understand/grasp about Cali politics? It hasn't had meaningful Republican representation since the '80s.