BORROWING TO GET OUT OF DEBT, WHO WILL REPAY THIS GRAND SCHEME?Who will front this money to the CNMI? How will this work? ..
Story Here....
The NMI Retirement Fund has favored a proposal to allow the CNMI government to borrow whatever amount is needed to pay its debt to the pension agency. The House of Representatives is currently considering two separate legislative initiatives for a pension obligation bond. One version, proposed by Rep. Heinz Hofschneider, calls for a $200-million debt to pay the government's pension obligation. Another proposal, sponsored by Rep. Joseph Deleon Guerrero, does not set a specific dollar amount, stating only that the bond must not exceed what the government owes the Retirement Fund.
Now I'm not an economics expert by a long shot but can you tell me how this plan will work?
How can one float a bond if they can't even pay the original debt? Where will the money come from to repay the bond? Will the repayment come from the general fund, and if it does, will we all now be paying the retirement benefits that the government owes by itself?
This sounds like a scheme to default the non government employees into paying benefits that the government owes. If that is the case then we all should get retirement benefits if the general public has to pick up the governments tab.
Now, as I said, I don't know this answer, but I would like to find out. If anyone has a clue as how this will work please tell me. I would love to know....
Something smells fishy here...
.....GED.....
NOW THE BIG QUESTION:
WHAT THE FU**K ARE THEY WORRYING ABOUT $200 MILLION FOR THE RETIREMENT FUND WHEN THEY CAN'T EVEN BUY PARTS FOR CUC ENGINES??????? IDIOTS!!!!!
3 comments:
who in their right mind would want to buy that debt as an outside investor. i think a SIV based on subprime mortgages from louisiana is a safer investment. Good luck finding suckers...
Borrow from Ben Tan Fitial's master Willie Tan. We will rename our island to SaiTan declare Willie Tan DickTator and Ben Tan can be his lifetime jester. We can legalize casinos in return and break away from the U.S.
$200 million is peanuts for the Tan Dynasty. Willie Tan makes Joeten family look poor. We can also build a Willie and Ben shrine and temple where we can go worship money.
GlenD, two things.
1. Back-up generators will be arriving into Saipan from Hong Kong courtesy by Ben Tan and his master.
2. Ben Tan supported geothermal drilling because the drilling will take place at his friend's property. He will pay him upto one million.
Who will be paying for all this fucking bull shit? The CNMI tax payers.
Fitial can't be stopped.
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