[Moral Hazard]

" It couldn't have anything to do with the nearly THIRTY BILLION in new debt Arnold has advocated in less than two years."

You're right, it has absolutely nothing to do with that, and has everything to do with the city council conspiring with organized labor to increase promised pension benefits without funding them in exchange for short-term wage concessions.

[Digger]

You're right, it has absolutely nothing to do with that, and has everything to do with the city council conspiring with organized labor to increase promised pension benefits without funding them in exchange for short-term wage concessions.

Well said.

[Carry_Okie]

You're right, it has absolutely nothing to do with that, and has everything to do with the city council conspiring with organized labor to increase promised pension benefits without funding them in exchange for short-term wage concessions.

Wrongo. When Arnold floated the bonds, he incurred a cash flow stream to service the debt. To make the books "balance," he screwed local government out of property tax revenue and left them short of revenue.

Capiche?