[calcowgirl]

>>... Goldman Sachs and De La Rosa and Company handled the sale of bonds?

That goes back to Arnie’s big-bang-bonds. In total, it was a $107 billion dollar plan, heralded by his leftist Agenda21 Commissar, Sunne Wright McPeak. It started with voters (foolishly) passing Proposition 1B in 2006, $20 Billion in Transportation Bonds. I haven’t followed the status of bond issuance since then.

http://www.freerepublic.com/focus/f-news/1686184/posts
CA: Official backs billions in state bonds (Essential for economy - “must spend $107 billion”)

http://www.dot.ca.gov/hq/transprog/ibond.htm
Proposition 1B - Transportation Bond Program

[the invisib1e hand]

I assure you, any bond that acts like a treasury but pays above market rates will not go unsold. It would be fiduciary irresponsibility to fail to take the government's bribe, no matter how immoral.

Talk about a slippery slope. Talk about "moral hazard."