BOB YUDIN is right. This week, the chairman of the Bergen County Republican Organization called on incoming state Attorney General Paula Dow to investigate the Bergen County Improvement Authority.
Yudin was responding to Tuesday's in-depth report in The Record on the Improvement Authority's loan program.
The county touted its Municipal Banc as an easy way for municipalities to get cash fast. It was almost instant credit — not a good thing for taxpayers living in small towns, some run by people cozy with the same county officials pushing the fast loans. Municipalities could borrow money without specifying what they needed to purchase. Several towns borrowed money they did not use. Meanwhile, they had to make payments on the unneeded loans. The debt mounted like uncollected trash.
