And Now Oakland Just Voted To Repudiate Interest-Rate Swaps With Wall Street

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Photo: commons.wikimedia.org

California’s battle to extricate itself from interest rate swaps continues…Oakland has just voted to repudiate interest rate swaps costing it $5 million/year according to an announcement put out by the SEIU.

Across the entire Bay Area, such swaps are costing nearly $150 million per year, and our guess is that every city will do this.

Get the full skinny on California’s new battle against Wall Street here >

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