Read MoreThe path is smooth that leadeth on to danger.
– William Shakespeare
In the 2nd post on the topic, Dan Cooreman of the Sunday Business section indicated that the problems Gretchen Morgenson spoke to in her article,The Swaps That Swallowed Your Town, were in fact related to the variable rate instruments. He seemed to agree with exactly my point but ultimately, my final words (below) to the Times editors on the topic have gone unanswered.
Topics: municipal swaps, press, swaps that swallow town
Topics: SIFMA, public finance, swaps, tax-exempt financing, municipal swaps
One of the (few) benefits of leaving a perfectly functional Street job is that I'm now free to have a free dialogue with the free press using my now free(er) speech. To that end, I decided to engage the NYT a few weeks back regarding Gretchen Morgenson'sThe Swaps That Swallowed Your Town article. This is the first of 3 posts recounting the transcript as surprisingly, they did engage.
Topics: swaps, libor, municipal swaps, hedging
"Knit Cap Creates Huge Hangover" is Not a Good Headline
Topics: Wall Street, SIFMA, public finance, swaps, municipal swaps, press