Interesrting article. Pretty huge imo.

http://www.rollingstone.com/politics...620?print=true

is this not a big deal?

Great article, and its a huge deal.

I care, but this kind of ***** just seems like par for the course in our country.

Politics as usual.

The article is horrendously ignorant. It says: By conspiring to lower the interest rates that towns earn on these investment

Towns don't invest in municipal bonds, they issue them. Lowering interest rates that they PAY is good news.

Since the article is obviously wrong, it seems like its purpose is to generate some emotional reaction in its readers. Obviously they succeeded.

They (banks, financial institutions etc.) bid on the Interest rate that THEY (the banks) will PAY on the money to the city, town, etc. borrowing it while going from sitting there doing nothing, to being payed out for contracted work (construction).

The cities do not need to operate in debt. The banks gave them a loan terms and they accepted them. Generally anything less than 10% is a steal for the cities. Furthermore, it is tax deductible, another scam.

As revenues come in the cities should spend them. There is no need for debt of the local, state, or federal level. If they build a subway and run out of money one year, they can stop. The wealth is still there. Then they can continue when funding is back.

Government is the scam.