NEW CASTLE —
Editor, The News:
In the weekend edition of The News, an article, “Bill aims to bar public use of swaps” was published that highlighted the New Castle school district. New Castle was the only school district in Lawrence County to engage in credit swaptions.
State Sen. Rob Teplitz joined with three other senators to introduce legislation that will bar school districts from using the credit swaps that have cost the taxpayers billions of dollars.
Sen. Mike Fuller, the sponsor of the bill, said, “Those in the private sector who want to engage in risky finances are free to do so. But public officials should not be allowed to gamble with tax dollars.”
The New Castle school district in 2004 entered into a swap that became a financial disaster. The amount of the taxpayers’ money lost was never fully disclosed. Could the loss be included in the district’s debt that is approaching $100 million?
How could anyone with a clear conscience say that he has been fiscally responsible when the following occurred under his watch?
Considering the district was in the middle of the school consolidation project. The Ben Franklin building was sold for $250,000 when it was appraised for $1 million. Utilizing the building would have saved the taxpayers millions of dollars.
Is this the type of fiscal responsibility and leadership the New Castle school district needs?
NEW CASTLE —
Editor, The News:
- Letters to the Editor
Letter to the Editor E-form
Send Letter to the Editor E-form
Obama’s border moves contradict security
Editor, The News: Over the decades, how many billions have been spent by the states to successfully eradicate lethal or debilitating contagious disease?
Poll regarding Obama defies the evidence
Editor, The News: I have read and seen on television that the results of a recent poll found the majority believed President Obama to be the “worst president” since World War II.
Benefits are perceived as positive outcomes
Editor, The News: In a July 14 letter, Russ Hall asked, “Why has the Obama administration stopped calling it Social Security? A Social Security check now says ‘Federal Benefit Program.’”
Bands were missed at local festival
Editor, The News: Recently, I have heard New Castle’s two great concert bands: The Red Coat and Blue Coat.
Bureaucracy blocks housing complaint
Editor, The News: I am not usually a complainer, but I have a neighbor who does absolutely nothing regarding house maintenance.
Consider the math of Social Security
Editor, The News: This is in response to the letter to the editor of July 14.
Where is evidence of war on women?
Editor, The News: War on women? What world do they live in?
Social Security fails to meet promises
Editor, The News: Most of us began working with the knowledge that, eventually, we would be eligible to retire and start collecting our retirement safety net, called Social Security.
National Anthem play was insult to listener
Editor, The News: We had a wonderful time at Pearson Park listening to a DJ play patriotic music through the evening on July 4.
- More Letters to the Editor Headlines
- Letter to the Editor E-form