U.S. Criminal Probe Rattles $2 Trillion Municipal Bond Market
December 9th, 2006Uhh…
Via: Bloomberg:
The first-ever antitrust probe of the municipal bond market is roiling an industry that states and cities depend on to finance everything from garbage trucks to schools.
U.S. Justice Department prosecutors subpoenaed more than a dozen banks and insurers three weeks ago, seizing documents from three brokers in a search for evidence of bid rigging. Lawyers say it’s the biggest criminal investigation of the almost 200- year-old market, where municipalities have more than $2 trillion of debt outstanding.
Posted in Economy | Top Of Page
