Local politicians buy derivatives in "recipe for disaster"
Local politicians buy derivatives in "recipe for disaster"Cash-strapped public school districts and other local governments are increasingly making bets on arcane financial derivatives, often in hopes of quickly raising needed funds. But sometimes, as Bloomberg News recounts, those bets go awry. The schools suffer, but the financial firms clean up.
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Labels: credit derivatives, derivatives, regulation, risk management, trading
posted by Victor Lloyd Smith @ 11:39 AM
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