SUBSCRIBE NOW

  • Subscribe to MyRye.com: Enter your email address:

TRANSLATE

Twitter Updates

    follow me on Twitter

    © Jay Sears, All Rights Reserved.

    Become a Fan

    « O'Brien Boys Dig Up History at Jay Estate | Main | Rye Acquired Ichiro in 2006 »

    Comments

    Feed You can follow this conversation by subscribing to the comment feed for this post.

    tedc

    This is really good and we appreciate the district keeping it's house in order.

    There was however an illuminating expose' out a few weeks ago on the whole municipal bond racket that kind of put the pieces together as to the sources of high flying lifestyles obtained off the backs of districts like ours. Here's a pull quote and a link to the article:

    "The banks achieved this gigantic rip-off by secretly colluding to rig the public bids on municipal bonds, a business worth $3.7 trillion. By conspiring to lower the interest rates that towns earn on these investments, the banks systematically stole from schools, hospitals, libraries and nursing homes – from "virtually every state, district and territory in the United States," according to one settlement. And they did it so cleverly that the victims never even knew they were being ¬cheated. No thumbs were broken, and nobody ended up in a landfill in New Jersey, but money disappeared, lots and lots of it, and its manner of disappearance had a familiar name: organized crime."

    Read more: http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620#ixzz1z1fqh7Qo

    The comments to this entry are closed.