Wednesday, June 5, 2013

The Madoff Of Munis - Forbes

From Forbes on 6/5/13:

By Francine McKenna, Forbes contributor

As her renown in the elite world of quarter horse breeding grew, Rita Crundwell kept her unglamorous day job as the $80,000-a-year comptroller of Dixon, Ill., a working-class city of nearly 16,000, most famous as the boyhood home of Ronald Reagan. Year after year, she delivered the bad budget numbers to councilmen and department heads–numbers that meant streets couldn’t be repaved, ambulance equipment couldn’t be purchased, and replacement radios for cops and firefighters would have to wait. Eventually the city workforce was cut.


Read the whole article here.

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