Monday, July 25, 2011

The Not-Quite-The-Whole-Story Life Of Joanna Doven

If there is a great newspaper, or perhaps an ostensibly exciting new newsgathering operation, in the vicinity, it would be great -- and exciting, and novel -- to have an informed public with respect to a few questions concerning the proposed refinancing of InsolvenCity debt:
  • Who stands to profit?

  • Who stands to profit (indirectly)?

  • How much profit is involved?

  • Was the amount of profit, and/or the identity of those who will profit, established by competition?
Of course, cream-skimming is not the sole issue that could merit examination in this context.

Infytune: Money For Nothing, Dire Straits (When MTV Was About Music version)


talk is cheap said...

if you got something to say, say it, which by the way would be a first ......otherwise, butt out

Anonymous said...

Sorry, but I don't get the headline. How does it relate to the story?

Infinonymous said...

InsolvenCity announcements concerning public finance transactions never tell the entire story -- who advised the city, who will profit (as procurers, financers, etc.), whether the job was bid, who negotiated the rate, who made the decision(s), etc. A bunch of these deals have been full-blown disasters; in many others, the public is bled drop-by-drop by high transaction costs and insider cream-skimming even if the deal does not crater entirely.

So, when Joanna Doven announces another financial transaction, the public does not get the whole story. In particular, it doesn't get the part that involves the Grattans, Zappalas, Santones, Malones, Verbanacs, Roddeys, and the like of our world.

Anonymous said...

Should have realized. Thanks.

Infinonymous said...

It is reasonable, by the way, to blame the Post-Gazette, the Tribune-Review, and the lazy bastards who replaced journalists in local television news, at least as much as government officials are to be blamed for this circumstance.

Government officials enable the cream-skimmers and scammers to prey on the public. Less culpably, government mouthpieces refrain from providing the entire story. Neither breach of public trust would be quite so easy without acquiescence by newsgatherers.

Anonymous said...

I'll give you this Infy, you are an equal opportunity critic. Democrats, Republicans, the media, the Steelers, cops, Poplawskis, politicians, you give em all hell.

You do play favorites with some bands though, especially oldies . How bout some newer music?

SteelCityMud said...

Well it looks like the ReFi measure is tabled for now. The markets are so spooked at what is happening at the national level that our poor municipality can't get the interests rates that would make this worth while.