Dodgy councils & their dodgy debts

 The long list of corporate councils deep in private debt is not going away. Several of the councils have virtually declared bankruptcy.  Many are so deeply in high interest private debt that they can only pay the interest.

https://www.theguardian.com/housing-network/2016/apr/01/lobo-loans-councils-social-landlords-impoverished-debt

https://www.bbc.co.uk/news/uk-england-northamptonshire-50391757
https://www.bbc.com/news/uk-england-northamptonshire-42977061.amp

https://www.dorsetecho.co.uk/news/18157719.27m-controversial-lobo-loans-former-council-acted-properly---paperwork-missing/

https://www.standard.co.uk/business/council-faces-probe-into-timebomb-lobo-loans-from-city-amid-cuts-in-children-s-services-a3199581.html

Some of the councils may try to get some equity:  https://lexlaw.co.uk/practice-areas/litigation-dispute-resolution-solicitors-london/compensation-claim-councils-mis-sold-lobo-loan-legal-advice/

Perhaps the banks securitise the debt instruments and get even more than 8 times the BoE base rate? 
https://www.room151.co.uk/treasury/end-of-barclays-borrower-option-on-lobo-loans-both-criticised-and-praised/

Now there are plans for new "unitary authorities" undoubtedly to cover the criminal evidence of the previous administrations and their dodgy 'activities'. And anyone paying Council Tax is helping to fund the criminality.