Risky Wall Street Swaps Costing PA Millions, Senate Considers Ban [VIDEO]

[Counterpoint PA]

This is a video from my show Counterpoint PA, the only grassroots progressive newscast exclusively about Pennsylvania politics.

In this video, I discuss a proposal in the PA Senate to ban local governments and school districts from making risky Wall Street swaps deals; including a hearing about the bill where former state Auditor General Jack Wagner (D) said these kinds of swaps have cost the state hundreds of millions of dollars and the strident support of progressive state Senator Rob Teplitz (D) in favor of the proposed ban.

For a transcript, links to the sources used in this story, or to browse the show's categorized video archive, go to http://counterpointpa.org. (Go here if you want to go right to the post for this video.)

Stay in touch on Twitter @CounterpointPA and on Facebook at http://facebook.com/counterpointpa and stay tuned through 9/30 for two more PA Headlines, The Breakdown, and Worst Pennsylvanians of the Week.

Still to come:

PA Headlines

The Pennsylvania State Nurses Association Endorses Medical Marijuana

Activism in Action - A Lighting Round Update of Progressive Protests in PA

The Breakdown

Sean Kitchen of Raging Chicken Press joins me to discuss his reporting on a proposal to gut the state's endangered species act to allow even more unregulated fracking in the state

All that plus Counterpoint PA's special homage to Keith Olbermann, the Worst Pennsylvanians of the Week!

[A HERETIC I AM]

1. It would seem to me that this story is better suited for the Economy forum...

or perhaps even General Discussion.

This is the Personal Finance and Investing Group.

You are free to post it as you wish, but it is a bit off topic for this group.

[Counterpoint PA]

2. Sorry!

I posted this there too, but I didn't realize it was out-of-place here. Thanks for letting me know so I don't annoyingly clog up your forum!

[A HERETIC I AM]

3. LOL...YOu didn't "annoyingly clog up" anything

and it certainly isn't my forum, not by any stretch.

This group has no host or hosts, as it doesn't need one. It gets fairly light traffic. The point I am making is this;

If your story had to do with individual investing in PA bonds, then it is most certainly appropriate. BUT, it doesn't. It is a news story relating to state financing.

I'm not trying to bust your chops here and as I said, you are free to post it as you see fit.

It just seems to me to be a story better suited (and will get many more eyes on it) for the Economy forum or General Discussion.

Don't take offense.

[Counterpoint PA]

4. No offense taken!

I'm a frequent and veteran forum-goer so I was being serious. I am sorry, I do hate it when forums get annoyingly clogged up with off-topic threads, and I don't want to be that guy! Sincere thanks.