Could govt-run munis be next?

[JSPayne]

IMO, should this actually come to pass, it would be a sad sad day for California. Gov. Schwarzenegger wants to shut down numerous state parks including memorable personal parks for me....Sutter's Fort, Montana De Oro, Fort Ord Dunes.

Is this just a short step away from closing down munis? We all know they are usually more of a burden than a cash cow...

Links to the SFGate article:
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2008/01/17/MN5TUF5D3.DTL

And a map of proposed park closures:
http://govbud.dof.ca.gov/BudgetSummary/ImagePages/FG-RES-01.html

[Craig Sweet]

That link takes me nowhere...however...if he's proposing the closures based on costs, then I understand...typically parks are expensive to maintain, and do not generate the revenue needed to maintain...muni golf on the other hand generally generates a net profit.

[Garland Bayley]

IMO, should this actually come to pass, it would be a sad sad day for California. Gov. Schwarzenegger wants to shut down numerous state parks including memorable personal parks for me....Sutter's Fort, Montana De Oro, Fort Ord Dunes.

Is this just a short step away from closing down munis? We all know they are usually more of a burden than a cash cow...

Links to the SFGate article:
SFGate article

And a map of proposed park closures:
http://govbud.dof.ca.gov/BudgetSummary/ImagePages/FG-RES-01.html

[Bob_Huntley]

I must say I thought you were referring to the Sub-Prime debacle and what would happen to those Municipal Bonds that are rated AAA because of the the possible loss of their  insurance coverage by MBIA and AMBAC.

Something like that happening would really give Governor Schwarzenneger a headache.

Bob