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From Midwest to M.T.A., Pain From Global Gamble

New York Times Original article ›

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How Irish bank Depfa with parent company headquartered in Munich and financial advisers and bankers who advised the New York Transit Authority and Kenosha Wisconsin school board to borrow money from the Irish bank and invest in CDO's, will lead to huge loses for the school board and New York transit authority. Hundreds of cities and local governemtn agencies are now facing huge losses like this across the country.


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