municipal bonds Archives

Swimming with the Sharks: Goldman Sachs, School Districts, and Capital Appreciation Bonds

December 15, 2020February 24, 2015 by Ellen Brown

Also called payday loans for school districts, CABs have now been issued by more than 400 California districts, some with repayment obligations of up to 20 times the principal advanced (or 2000%).

Preparing To Asset-strip Local Government? The Fed’s Bizarre New Rules

December 15, 2020September 9, 2014 by Ellen Brown

In an inscrutable move that has alarmed state treasurers, the Federal Reserve, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, just changed the liquidity requirements for the nation’s largest banks.