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Tuesday, December 15 2009  |  01:32 EDT  | 
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Friday, October 23, 2009
11:52 AM TweetThis
  • New Jersey is paying $1M a month to Goldman Sachs (GS) for protection against rising interest rates - on bonds that were redeemed over a year ago. The state's transportation fund entered a swap agreement in 2003 that doesn't expire until 2019, though it replaced the auction-rate bonds last year after that market froze. Says one rulemaker about swaps: "The world’s got to see what stupidity even the sophisticated investors like the transportation fund can get into."
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This news story has 9 comments:

  •  
    "New Jersey is paying $1M a month to Goldman Sachs (GS) for protection." Period.

    Because the governor of the one place comes from the other place.
    Oct 23 12:03 PM | Link | Reply
  •  
    Goldman: MuuuuHAHAHHAHAHAHAHAHAH

    taxpayer: ....
    Gov't: eh, wacha gonna do
    Oct 23 12:09 PM | Link | Reply
  •  
    A mere 3.65 billion over the next 10 years, till 2019.

    The mafia is not gone they all took jobs at GS.
    Oct 23 12:10 PM | Link | Reply
  •  
    New Jersey is the next California,only worst
    Oct 23 12:14 PM | Link | Reply
  •  
    State pays "protection money" to Goldman Sachs.....

    "Hey, New Joisey , ya never know when ya might have a accident or sumthin'"
    Oct 23 12:14 PM | Link | Reply
  •  
    There are 50 ways to leave your lover, but a 1000 ways to hedge your bets. Some good - Some bad!
    Oct 23 12:17 PM | Link | Reply
  •  
    When you lay down with dogs you are bound to get fleas.
    Oct 23 12:28 PM | Link | Reply
  •  
    Protection money: Yes, it's the Russian Mafia thing.
    Oct 23 12:33 PM | Link | Reply
  •  
    They can't fund their pensions, but they can fund GS!
    Oct 23 01:46 PM | Link | Reply
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