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Be Like Oakland and Walk Away from Interest Swap Payments to Goldman and Bankers

By bgamall4   Follow   Sat, 21 Jul 2012, 8:44am   567 views   5 comments
In Reno NV 89502   Watch (1)   Share   Quote   Permalink   Like   Dislike  

http://www.businessinsider.com/cities-be-like-oakland-and-walk-away-from-interest-swap-payments-to-goldman-and-bankers-2012-7

My newest article in BI. Please support this article as I think it is important to see who is breaking local government. It isn't politicians or unions for the most part. It is the bankers.

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1. bgamall4 Follow Befriend (14) 751 threads 2,585 comments 63 male Las Vegas, NV bgamall4's website Premium

   1   10:11am Sun 22 Jul 2012   Share   Quote   Permalink   Like   Dislike   Turns out, LIBOR may be the event that allows these governments to walk away. We can hope so.

2. bgamall4 Follow Befriend (14) 751 threads 2,585 comments 63 male Las Vegas, NV bgamall4's website Premium

   2   2:44pm Mon 23 Jul 2012   Share   Quote   Permalink   Like   Dislike   Bumping this for the Monday crowd. This impacts the bay area guys.

3. bgamall4 Follow Befriend (14) 751 threads 2,585 comments 63 male Las Vegas, NV bgamall4's website Premium

   3   9:40am Sat 28 Jul 2012   Share   Quote   Permalink   Like   Dislike   Ruki says Be like Oakland with murders-per-capita through the roof, too! Maybe if folks didn't swindle the Oakland city governments this could be better managed. You just can't put 2 + 2 together can you Ruki?

4. bgamall4 Follow Befriend (14) 751 threads 2,585 comments 63 male Las Vegas, NV bgamall4's website Premium

   4   9:51pm Mon 6 Aug 2012   Share   Quote   Permalink   Like   Dislike   Ruki says Except that Oakland was the Detroit of the West Coast long before Interest Swap deals were even a gleam in some smart investment banker's eye. Part of Oakland was far from Detroit in house values. It was a beautiful city. And while I have not been there recently, it probably still is in many areas. Swaps just make it a lot worse for cities.

5. bgamall4 Follow Befriend (14) 751 threads 2,585 comments 63 male Las Vegas, NV bgamall4's website Premium

   5   8:35am Fri 10 Aug 2012   Share   Quote   Permalink   Like   Dislike   I am bumping this article because Patrick showed me how to shift this from misc to the politics section. It is an interesting way to go and hopefully this will be Oakland's way out, especially after the LIBOR scandal which makes the profits on interest derivatives suspect.