Auction-Rate Debt Succumbs to Bid-Rig Taint as Citigroup Flees
The collapse of the auction-rate bond market, where state and local governments go to raise cash, demonstrates that regulators are no match for Wall Street. Hundreds of auctions have failed this month, sending borrowing costs as high as 20 percent … Continue reading Auction-Rate Debt Succumbs to Bid-Rig Taint as Citigroup Flees
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