Thursday, February 21, 2008

King County Chokes On Big Shitpile

Lucky duckies.

King County officials placed $207 million in investments that were subsequently undermined by the subprime mortgage crisis and expect to see proposals soon for a bailout.

Taxpayers could lose up to $83 million, county officials say, but the state treasurer thinks the county should write off the entire $207 million.

(ht reader p)