WALL STREET CON: "Interest Rate Swaps" Are Bankrupting Local Governments

By Ellen Brown

From globalresearch.ca

March 25th, 2012

globalresearch.ca —
The “toxic culture of greed” on Wall Street was highlighted again last week, when Greg Smith went public with his resignation from Goldman Sachs in a scathing oped published in the New York Times. In other recent eyebrow-raisers, LIBOR rates—the benchmark interest rates involved in interest rate swaps—were shown to be manipulated by the banks that would have to pay up;