A Truly Touching Union Of Red And Blue State Politicians

Bloomberg has the good word:

Alabama Governor Bob Riley sought out New York Governor David Paterson to help broker a solution to a sewer debt crisis that has pushed the state's most populous county to the brink of bankruptcy.

Riley, a Republican, called Paterson, a Democrat, because New York regulates bond insurers who guarantee $2.8 billion of the county's $3.2 billion of sewer debt, said New York State Insurance Superintendent Eric Dinallo. After a series of meetings set up by New York insurance regulators, banks and bond insures agreed to contribute $1 billion to a refinancing plan.