24.06.2012

The Scam Wall Street Learned From the Mafia

[RollingStone] How America's biggest banks took part in a nationwide bid-rigging conspiracy - until they were caught on tape
Who ultimately loses in these deals? Well, to take just one example, the New Jersey Health Care Facilities Finance Authority, the agency that issues bonds for the state's hospitals, had their interest rates rigged by the Carollo defendants on $17 million in bonds. Since then, more than a dozen New Jersey hospitals have closed, mostly in poor neighborhoods.
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