Finally! We get some criminal investigations!
May 18 (Bloomberg) -- A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. by Wall Street banks in the $2.8 trillion municipal bond market.
What we need is a version of Move You Money for the bond market. A web site where local governments could search for a local investment banker to float their bonds for them.