Alabama’s most populous county, Jefferson County, is so broke it’s closing down courthouses and laying off so many cops that it’s now planning to call in the National Guard to maintain order.

The county relied on advice from a bank, JPMorgan Chase & Co., to arrange its funding, rather than use competitive bidding.

The county paid banks $120 million in fees — six times the prevailing rate — for $5.8 billion in interest-rate swaps. That was supposed to protect the county from rising rates for their bonds. Lending rates went the wrong way, putting the county $277 million deeper into debt.

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asopn ze aj susedovi zdochla koza a nielen slovenski politici su katastrofalne neschopni a/alebo zlocinci.