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Old 10-27-2008, 02:35 PM
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Bloomberg.com: Exclusive

Somebody translate this article for me plz! [/n00b]
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Old 10-27-2008, 03:11 PM
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Idk.
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Old 10-27-2008, 03:21 PM
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From the gist of the article, local governments got upsold variable rate debt, and got creamed with huge ass rates.
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Old 10-27-2008, 05:56 PM
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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.
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Old 10-27-2008, 06:05 PM
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You mean something like this?
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Old 10-27-2008, 06:06 PM
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This is why variable rate debt and int swaps blow donkey balls. They are very risky.
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