Wall Street Collects $4 Billion From Taxpayers as Swaps Backfire

Wall street was laughing whenever a cfo of a state agency decided to buy interest rate swaps. Imo, I think those cfo's wanted to appear to play in the big leagues, and why not, it wasn't their money.
 
All these transactions were detailed in Liar's Pocker and Fiasco.

I guess these cfos never bothered to read them. :) Wonder how much kick backs, they all got?
 
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