If there ever was a word that obfuscates, it’s “securitization.” It’s a term for borrowing against future revenues. Nestled in Gov. Rell’s budget-adjustment proposals is $1.3 billion in securitization. OPM Secretary Bob Genuario just declined to give reporters details of the caper, which will be the subject of a joint announcement this afternoon between OPM and the Treasurer. The Blogster, a fan of the expanded bottle-deposit law, imagines that the nickel-deposit revenue stream, called escheats, will become part of the equation.
