Local Coronado Residents To Cash In As Bonds Default

 

A Common Sense reader sent in this message along with a link to a story that appeared last week in the San Diego Union-Tribune:

 

"Recent Chairman of Coronado First Bank Bill Huck and Board Member Todd Anson launch Common Bond Capital Partners.  Bill Huck—former executive of Stone & Youngberg and issuer of Coronado's $181 million municipal bond—forecasts 'About 200 bond issues totaling more than $5 billion will default in the next few years . . .'

 

Mr. Huck was also a longtime member of Coronado's Tunnel Commission."

Read "New S.D. Firm to Target Troubled Bond Projects" to learn about Mr. Huck's and Mr. Anson's new business.

Comments

[samiam]

How slick is that? They sell the City of Coronado the bonds and probably make a fortune and then they cash in on the defaulted bonds. White collar crime at its best!

[Robert111554]

I heard they made about $25million when they wrote those bonds.

[Robert111554]

Bill Huck was on the tunnel commission. He would be even richer had he succeeded in getting the tunnel approved. That default would have destroyed Coronado. Thank God for the "Kiss the tunnel goodbye" people.

[anonymous]

Four of the council fought hard (and dirty) for that tunnel. They should have been removed from office.

[Cup of Joe]

This should be investigated. Where's Janine Zuniga when you need her? Oh yea, they shut her up by giving her a cushy job in the Coronado City Managers office.