Quote:
Originally Posted by Katipan
No.
It's really easy to find and whatever anger you're attempting to work through here can be done with Google.
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Good. I found it. Let's have the discussion.
The Broncos owner spent 400k to replace the field before the final game of the season. He's worth 84bn dollars. He owns the team, and the team's value is impacted by the product he puts on the field. So if he puts a bad product on the field, the value of the franchise could easily go down by more than the 400k he spent to improve the field. That's a person's investing in his own business. That seems entirely reasonable.
STAR bonds on the other hand are a loan with no upside other than a coupon payment. And do you think it's primarily "rich people" who will be loaning that money? I seriously doubt it. I would expect it would be institutions - mutual funds, pension funds, hedge funds - who are largely sophisticated investors making decisions on behalf of their (end) investors who in many cases might be teachers, firefighters, whatever. No institution is going to buy these bonds just because "they're rich" and the Chiefs are a great football team.
There's no anger here. I'm just trying to explain to you how this works because "rich people get what they want from other rich people" isn't really how this would go down.