Name that party--Birmingham, Ala. mayor

Reuters:

Federal authorities arrested the mayor of Birmingham, Alabama, on Monday in a corruption probe surrounding a massive sewer bond debt that has forced Jefferson County to the brink of bankruptcy.

Authorities arrested Mayor Larry Langford at his place of business in Birmingham at 7 a.m. (1200 GMT) and indicted him on 60 counts including bribery, conspiracy and filing false tax returns, according to U.S. Attorney Alice Martin.

Langford was charged along with investment banker William Blount and lobbyist Al LaPierre for a total of 101 counts. The government said it was also seeking $7.6 million in forfeiture from the three men.

Blount's company profited from collecting fees recommended by Langford in the sewer bond transactions, Martin said.

Alabama's Jefferson County -- of which Birmingham is the main city -- is fighting to stave off what would be the largest bankruptcy in U.S. municipal history over its sewer debt.

Langford was the head of the Jefferson County commission at the time it engaged in variable rate, auction and bond swaps to raise money to improve its sewer system. Those bonds resulted in what is now a $3.2 billion sewer debt.

"He sold out his public office to his friends Blount and LaPierre for about $235,000 in expensive clothes, watches and cash to pay his growing personal debt. All the while, Blount was paid fees topping $7 million," said Martin.

...

I don't know why Reuters did not name Langford's party. Perhaps they just assumed that everyone would know a local official charged with corruption was a Democrat.

As for the other two under indictment, I would be hard pressed to find financial advisers for a public entity who were so consistently wrong for so long. They apparently attempted to use derivatives to lower the cost of the program and wound up with the completely opposite result. Finding the county in the hole in the deal they dug deeper. The downside of leverage is unforgiving as several institutions and now Jefferson County have learned.

The Birmingham News has more on the story but still does not reveal his party identification.

AP says Langford is a Democrat who won a "non Partisan" race for mayor. Blount and LaPierre are both former state Democrat party officials.

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