Tuesday, May 14, 2019

TKC Expert Financial Analysis: UMB Basically Calls Platte County A Bunch Of Deadbeats

A consideration of financial solvency and bond obligations basically boils down to a bunch of middle-class white guys fighting over flimsy paper promises like food stamps at the end of the month. Read more:

UMB blasts Platte County for 'kitchen sink' approach' with Zona Rosa bonds - Kansas City Business Journal

UMB Bank is blasting Platte County for taking a "kitchen sink" approach in its lawsuit regarding repayment of bonds for Zona Rosa. In September, UMB - the bond trustee - sent a letter to the Platte County Commission stating that the county had defaulted on its obligations under the bonds, demanding that the county pay the approximately $1 million shortfall.

2 comments:

Anonymous said...

Considering UMB and Spencer Fane's ongoing record of aiding and abetting a long line of sketchy Real Estate Con Men in the Kansas City Metro, this isn't surprising.

They've had yet another of their "Dream and Scheme" developments go south on them, and now they are once again facing the decision of whether to pick up the tab themselves in order to "save their reputations" once again, or let the Bondholding Chumps swing in the wind.

Too bad, UMB - try dealing with a classier bunch of Out-of-State Real Estate Developers next time. Or try looking at reality without being blinded by your "reputation for financial acumen".

Anonymous said...

Betty Boop was the Presiding Commissioner during the deal, she loved to be a yes gal and rubber stamp.