Wednesday, March 10, 2010

The Swaps That Swallowed Your Town


Published: March 5, 2010
"AS more details surface about how derivatives helped Greece and perhaps other countries mask their debt loads, let’s not forget that the wonders of these complex products aren’t on display only overseas. Across our very own country, municipalities, school districts, sewer systems and other tax-exempt debt issuers are ensnared in the derivatives mess."

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