DiscussMormonism.com

Some things are just too laughable if they weren't so deceitful and despicable by disingenuous liberals. And being up front again, I recognize most on this board may not have the experience nor understanding to appreciate this issue.

We have several liberal led California municipalities suing Exxon Oil, et al, over the impacts of their corporations’ action on global warming that are devastating their communities.

Let’s set aside, for the moment, any logical direct link of “cause/effect” from these cities to their plaintiffs other than the same wealth redistribution need all lazy liberals seek (as embraced by the availability of time most posting here have). And let’s set aside the concept of “global”, other countries (like China) and the reality of world wide issues - as liberals, by definition, publicly avoid any logic and reason in their complaints. To them - emotional social pandering is the tool of choice.

So the cities of Oakland, SF, Santa Cruz and others are suing the likes of Exxon for SIGNIFICANT damages of global warming caused by them. Yet when they go to the municipal bond market to finance their continuing out of control government spending - they make no reference in their bond indenture nor offering memorandum of these HUGE RISKS to the investor which is a legal securities requirement!

So who are they lying to? The courts or the public? Gotta love the lack of integrity of liberals - after all, its “other people’s money”!

Again: CFR me if needed

You don't live in California, why do you care?

- Doc

I checked a recent offering statement for San Francisco. They had a specific disclosure on climate change, but I think it’s still weak. Any coastal municipality that doesn’t disclose climate change risks and anticipated expenses in offering statements is begging for a securities fraud suit. Ditto any publicly traded corporation whose prospectus does not include similar risks.

When I was fresh out of law school, I was thrown into the meat grinder of a nationwide class action securities fraud case involving public utility bonds. Any coastal community that isn't specifically disclosing the risk of additional costs resulting from sea level rise is just begging to be sued. I checked a recent offering statement from Oakland -- no disclosure at all. The folks in the city's legal department better get together quickly with their bond counsel. The ratings agencies should be picking up on this, too, and including it in the bond ratings.

Of course, the appropriate folks probably read the WSJ, so they should be aware of the problem.

Doctor CamNC4Me wrote: I would absolutely love to talk to you about municipal bonds, how "they're brought to market" (lol), and how municipalities find lenders and pay for said bonds.

- Doc

When you do some research to understand that municipalities don’t going looking for “lenders” or the local community bank to float a bond issue - then we can talk. Again, hence my qualification in the OP.