San Francisco and other cities and counties are losing more than just transaction fees to Wall Street. Weidner pointed to the $100 billion that the California pension funds lost as a result of Wall Street malfeasance in 2008; the foreclosures that have wrought havoc on communities and tax revenues; and the liar loans that have negatively impacted not only real estate values but the economy, employment and local and state budgets. Added to that, we now have the LIBOR and municipal debt auction riggings and the Cypress bail-in threat. washingtonsblog/2013/07/green-light-for-city-owned-san-francisco-bank.html
Posted on: Thu, 01 Aug 2013 21:02:08 +0000
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