U.S.: Small Town, Big Debt - NYTimes.com/Video

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Uploaded by on Apr 8, 2009

Municipal bonds are traditionally safe investments, but cities and counties across Tennessee, got in financial trouble because they entered the complex world of derivatives.

Related article: http://tinyurl.com/cmtwkm

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News & Politics

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  • CaMeRON my dog is better at sex than you

  • This is what happens when you let greedy bankers write the rules.

  • Many cities don't even keep their accounting books in order. No wonder our country is in sad shape.

  • wat is this all supposed to mean?!!?

  • You don't have to be a sophisticated financial wizard to ask simple questions like "Why is this different? If it is so great, why was it not offered/devised long before now?" or even as simple as "If this new thing saves my town money, and makes money for the person selling/organizing via FEES, well then were does this new savings come from? Who will make LESS money now compared to PAST financial instruments?" Why would you agree to something you didn't FULLY understand?

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