Security for Staples Debt
Re “City Gives Staples Center New Terms for Repaying Subsidies,” April 12: The L.A. City Council does not feel it needs security from Philip Anschutz and Ed Roski for their $70-million debt. The council is probably right. They probably won’t default. I probably won’t default on my home loan either. But the bank still insists on security for my loan. Where public funds are concerned, the need for security should be even greater.
Howard L. Ekerling
Studio City
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