In late 2006 or so,
I was teaching the North Carolina Ethics Component
for the NC Bar association,
for free.
I brought up a Real Estate closing scenario for examination,
in which everyone at the table
except for the one time passing through customer
made relatively more
the larger the deal.
If you were the Real Estate Broker,
the more expensive the house,
the bigger the payday?
If you were the mgagtroe broker,
the bigger the total borrowed, the more exotic,
the more compensation involved?
If the Attorney,
the more business from those selling X,
the more Y?
etc...
About a week later,
I found out I didn't teach the NC Bar association Ethics Component
for free any more.
Same thing only different with the 1 month LIBOR based issue
the city (Robbie, Zack, Bellamy, Yvonne, Jim, Nancy and Denise?) wants to do
to borrow another $10 million, only different?
Did it look like Mary Kay and the other Nancy
were relatively uninformed of what was actually happening?
Why wasn't the city able to borrow $40 million
instead of only $30 million?
How did they get around only being able to borrow $30 million
to $40 million?
What are the risks of borrowing more
than guidelines say is allowable?
Did City Council know what many don't
about revaluations?
Do some know what probable tax increases are coming
from Guilford County?
Are some going to pay for contributors interests
instead of paying down the Lake Jordan costs?
And some want to borrow another $30 million
on top of the $40 million?
If they didn't know,
how could borrowing $10 million more than they are supposed to
be perceived
if it doesn't work out the way they hoped,
not knowing past mistakes may have been repeated?
If those in Greensboro's blogospherrrre say nothing,
I understand if you may not understand.
If you choose to know and say nothing,
I may pitty you.
For Greensboro's press to not understand what they should
and not report it...?
For those not financially literate on City Council to not object?
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