Is San Antonio’s $850 Million City Bond Proposal a Fraud by Omission?

Is San Antonio’s $850 Million City Bond Proposal a Fraud by Omission?

We Say: We always try to remind readers that a “bond” is an institutional term for “loan”. With any other loan, be it for a new car or a home mortgage, savvy signers will  check out the “rate” or “interest” to be paid along with the principal. One must consider both numbers to arrive at the total cost of a loan.

We are honored to have this analysis of the proposed San Antonio bond by Stanley Mitchell. Stan is a “numbers guy”, a financial Consultant and general thorn-in-the-side of local governments that love to imply lots while revealing little. They seem to think that citizens can’t handle the truth or the math when it comes to paying for their pet pie-in-the-sky projects. Stan provided this breakdown to us after his presentation to San Antonio Tea Party General Meeting last Saturday.

Stan shows us what the proposed bond will really cost. Then he includes a timeline of his efforts to get at the truth from a city government that should be transparent with its citizens. Our leaders play a fine game of obfuscation.

Can you handle the truth? Can you vote down this wish list and send them back to the big oak table to cut back on their “wants” and cover the “needs” in our city?


Image credit:Joey Palacios  / TPR  


Bond, fraud by omission.pages
Bond, fraud by omission.pages

 


Republished from Mr. Mitchell’s notes from his presentation to San Antonio Tea Party, Saturday, April 8, 2016.  


 

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Stanley Mitchell is the consummate “numbers guy.”
With an earned MBA from Harvard Business School and 3 years in the U.S. Army Finance Corps Stan entered the corporate world with American Bank Stationery Company. He rose through ABS, later Clarke Checks (a San Antonio Corporation).
His corporate financial career included VP of Planning, Senior VP, General Manager, and Senior VP facilitating ABS LBO by Clarke Checks and transition to Clarke American.
Though retired Stan still does what he was always so good at. He earned the respect and admiration of every activist in the state when his forensic financial investigation spearheaded the successful campaign against VIA Modern Streetcar project.
Stanley Mitchell is a Corporate Financial Consultant in San Antonio, Texas and we are honored to have his contribution to SATP and the Revere Report.

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