Commissioner Bobby Humphryes says he will ask Alabama Attorney General Troy King to look into possible fraud connected to Jefferson County's sewer debt.  Humphryes says other states like New York have had success in collecting money from banks who sold risk auction rate securities.  This week New York Attorney General Andrew Cuomo said he was prepared to file charges against several banks.  In order to avoid prosecution two of those banks are buying back some of the bonds.  Citigroup is repurchasing $7 billion and UBS is buying back nearly $19 million.  Humphryes believes King should take a closer look at the banks that sold Jefferson County its sewer bonds.  "We know now from 2007, probably 2005, they were selling a product that wasn't worth what they were selling it for. There was some fraudulent activity going on there."  Commissioner Jim Carns supports Humphryes.  Carns says, "If we walk away from an opportunity to take advantage of legally something that the legal system is playing out in New York and we say we don't want to participate in that, that will not fly. That's not an acceptable option."  Commission President Bettye Fine Collins says she needs more information.  "I think we ought to sit down and talk about it and see how it impacts our situation.  I certainly don't object to a discussion about this."

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