Big Banks to Cali Treasury: Trust Me! What’s the Worst that could hapen?
by Luimbe • December 17, 2009 • politics & money
Citi, JPMorgan and Goldman want to sell your debt as long as they don’t have to bid to underwrite it. What could go wrong? If California were willing to forgo competitive bidding for a $4.5 billion bond offering, the banks promised more orders from individuals and a lower bill to the taxpayers. The firms insisted [...]