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San Bernadino going bk would be problematic. It looks like they are in the process of filing making them and their proposed entity they back not credit worthy, so the rates they would need to pay on the loans would be higher, and many investors would not make the loans unless they got preferred/ senior payment terms - they get paid before the cops and fireman do - which would be hard for the politicians to agree to. We should ask what they think of this.

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Neil Callahan
Rosemont Seneca
ncallahan@rosemontseneca.com
917-945-9516

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> From: "Reuters_News@reuters.com" <Reuters_News@reuters.com>
> Date: February 28, 2013, 1:44:33 AM EST
> To: "Ncallahan@rosemontseneca.com" <Ncallahan@rosemontseneca.com>
> Subject: Reuters.com - Bankrupt San Bernardino hires new manager for California city
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> Neil (Ncallahan@rosemontseneca.com) has sent you this article.
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> Reuters.com - Bankrupt San Bernardino hires new manager for California city
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