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Posted by on Mar 26, 2010 in Economy | 1 comment

The Government Thinks That Major Wall Street Players Are Defrauding Municipalities

There has long been evidence to support the claim of collusion to rip off the taxpayers by treating municipal bonds far harsher than corporate (a few years ago the ratings agencies got a lot of heat for this and it looked like action was about to be taken by multiple AGs, but then the financial crisis derailed it) but this is the first leak that the government has a criminal probe into specific banks on the investment side as well.

Noted without further comment.