Wet Behind The Ears

AITOOW has heard people are complaining about water rates going up? I saw a expose this summer that says the real culprit might not be new regs or supply v demand. It is derivatives. Many hayseed water management officials bought derivative products from financial institutions that they didn't understand. They just wanted/needed cheap money. The rates they were charged were variable and very sensitive/leveraged. If conditions changed then the borrower would end up losing money very fast. Guess what. Conditions changed and these agencies were on the hook for millions. So just remember that the next time your rates go up. It's going to Wall St speculators not to improving infrastructure.

BTW - this is why you hear that municipalities are also going bankrupt.