Dear CIGAs,

As letting Lehman declare bankruptcy proved without any doubt, once you start Federal bailouts of all and everything you cannot stop.

They have opened a Pandora’s Box of providing dollars at home and at the home of all of the near and dear allies.

There is no way out now. The supply of dollars has risen in an unprecedented manner and this is only a harbinger of what lies ahead.

There is no way that a strong dollar can sustain itself alongside an  avalanche of new dollars being created electronically to hold up every major business, OTC derivative manufacturer and financial entity worldwide.

Here are a few requests coming this month.

Officials Seek Transit Rescues 
Total Exposure Could Be Up to $4B Bond Buyer  |  Oct 27 
WASHINGTON – State officials and lawmakers Friday were holding emergency meetings and pressing the Treasury Department to rescue public transit deals facing billions of dollars of payments.

Treasury Urged to Back SILO, LILO Deals Bond Buyer  |  Oct 28 
WASHINGTON – The Treasury Department must take the place of American International Group Inc. as guarantor of transit agency sale-leaseback deals to avoid “financial disaster” for state and local governments, a group of lawmakers warned Treasury and Federal Reserve officials yesterday.

JPMorgan Ditches $300M Deal; Miami-Dade Left in the Lurch Bond Buyer  |  Oct 27 
BRADENTON, Fla. – When JPMorgan Chase refused to renew a standby bond purchase agreement that expired Sept. 29 for more than 90 days, Miami-Dade County was forced to seek a substitute provider for nearly $300 million of variable-rate demand water and sewer bonds issued in 2005.

Alabama Files to Void Swaption 
State Wants to End Deal With JPMorgan     Bond Buyer  |  Oct 30 
BRADENTON, Fla. – Alabama on Tuesday filed a complaint in federal court asking a judge to void a swaption the Alabama Public School and College Authority entered into in 2002 and 2003 with JPMorgan.

S.F. Airport Restructuring No Laughing Matter Bond Buyer  |  Oct 27 
SAN FRANCISCO – As the auction-rate securities market meltdown raged this spring, San Francisco International Airport rushed to restructure hundreds of millions of dollars of ARS with variable-rate demand obligations, trying to beat other issuers to the market before liquidity dried up.

WMATA Seeks Court Order Against Creditors Bond Buyer  |  Oct 30 
WASHINGTON – The Washington Metropolitan Area Transit Authority sought court action yesterday to prevent it from having to make a $43 million termination payment on a sale-leaseback deal guaranteed by American International Group Inc.

Groups Want Facility for ARS Conversions Bond Buyer  |  Oct 29 
As liquidity for municipal issuers remains scarce in the short-term market, a regional broker-dealer group and an organization representing nonprofit student loan lenders are urging the Treasury Department to provide standby liquidity facilities for issuers still trying to convert from auction-rate securities to variable-rate demand obligations.