5 thoughts on “Minor Delinquent in California Taxes”

  1. And somehow he was able to post a bond with the city to build the landmark hotel — which now stands gutted like some abandoned soviet project.

  2. I’m not sure what the bond has to do with the hotel’s state of completion. The City requires bonds to protect the taxpayers from the cost of fixing any public infrastructure a developer may disrupt. In the case of the hotel, that infrastructure would be Water Street, 2nd Street, the Mall, and any public utility lines underneath. The City did call this bond when the project stopped.

    The City does not — nor does it have the legal authority to — require a developer to bond the completion of an entire project on private property.

  3. Is he looking at possible prison time over any of this? Or is prison only for the little folk?

    Mark Twain’s co-authored novel “The Gilded Age” should be required reading during all periods of boom, excess, and credit bubbles. One of the (literally) money quotes:

    Beautiful credit! The foundation of modern society. Who shall say that this is not the golden age of mutual trust, of unlimited reliance upon human promises? That is a peculiar condition of society which enables a whole nation to instantly recognize point and meaning in the familiar newspaper anecdote, which puts into the mouth of a distinguished speculator in lands and mines this remark:–“I wasn’t worth a cent two years ago, and now I owe two millions of dollars.”

  4. I feel like such a loser. All those years working and/or living in California, and I didn’t even get an honorable mention on that list.

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