Swimming with the Sharks: Goldman Sachs, School Districts, and Capital Appreciation Bonds. by Ellen Brown

2012: What's the 'real' truth?

By Ellen Brown
Global Research
February 21, 2015
The Web of Debt

goldmansachs

The fliers touted new ballfields, science labs and modern classrooms. They didn’t mention the crushing debt or the investment bank that stood to make millions. — Melody Peterson, Orange County Register, February 15, 2013  

Remember when Goldman Sachs – dubbed by Matt Taibbi the Vampire Squid – sold derivatives to Greece so the government could conceal its debt, then bet against that debt, driving it up? It seems that the ubiquitous investment bank has also put the squeeze on California and its school districts. Not that Goldman was alone in this; but the unscrupulous practices of the bank once called the undisputed king of the municipal bond business epitomize the culture of greed that has ensnared students and future generations in unrepayable debt.

In 2008, after collecting millions of dollars in fees to help California sell…

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