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Local Government Debt

The Shadow Bailout: How Big Banks Bilk U.S. Towns and Taxpayers

Ellen Brown | Posted 05.26.2012 | Business
Ellen Brown

Banks and borrowers were supposed to be paying equal rates: the fat years would balance out the lean. But the Fed artificially manipulated the rates to the save the banks.

China Reports Rapid Increase In Tax Revenues Amid Debt Concerns

Posted 09.18.2011 | Business

BEIJING (Kevin Yao) - China's tax revenues in the first half of the year surged 29.6 percent from a year earlier to 5 trillion yuan ($773 billion), un...

Local Governments Held Hostage By Bank Deals

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

In the spring of 2008, the Denver public school system needed to plug a $400 million hole in its pension fund. Bankers at JPMorgan Chase offered what ...