JPM Fraud

**wuzy** · #1 (**permalink**) 10-27-2008, 02:35 PM

Bloomberg.com: Exclusive

Somebody translate this article for me plz! [/n00b]

Afrodisiac · #2 (**permalink**) 10-27-2008, 03:11 PM

**SuperFly03** · #3 (**permalink**) 10-27-2008, 03:21 PM

From the gist of the article, local governments got upsold variable rate debt, and got creamed with huge ass rates.

**Gneisenau** · #4 (**permalink**) 10-27-2008, 05:56 PM

Kind of sounds like what happened to Orange Country CA and LA City several years ago. I guess some people just can't learn from other people's mistakes.

**sirheck** · #5 (**permalink**) 10-27-2008, 06:05 PM

You mean something like this?

**SuperFly03** · #6 (**permalink**) 10-27-2008, 06:06 PM

This is why variable rate debt and int swaps blow donkey balls. They are very risky.