Across the nation, local governments and related public entities, already reeling from the recession, face another fiscal crisis: billions of dollars in fees owed to UBS, Goldman Sachs (GS), and other financial giants on investment deals gone wrong. Full Story »
Posted by Kaizar Campwala - via Business Week
Highly recommended read about how governments and municipal entities also fell pray to Wall Street's financial instruments, and are how suffering the consequences. with multiple examples, this piece shows a range of government and municipal entities with varying levels of culpability, all of whom paying Wall Street big money.
“The banks stuffed customers with [questionable investments] and then extorted money from the customers to get rid of them,” More »
So much for "You and Us". What a bunch of thieves UBS is. They knew this downturn was coming. They knew there was a bubble. They are scamming your schools and your cities and your economy after they sold you crap ponzi loans.
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