Article Image
News Link • Economy - Economics USA

Diddling the Munis With Wall Street

• arclein
For more than a decade, banks and insurance companies convinced local governments, hospitals, universities and other non-profits that interest rate swaps would lower interest rates on bonds sold for public projects such as roads, bridges and schools. The swaps were entered into to insure against a rise in interest rates; but instead, interest rates fell to historically low levels. This was not a flood, earthquake, or other insurable risk due

Join us on our Social Networks:


Share this page with your friends on your favorite social network: