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New Orleans Eases Credit Headache With $200M Taxable Refunding

New Orleans will remove unsecured taxable variable-rate pension debt seen as dragging down the city's credit quality at the cost of a huge swap termination payout to PaineWebber Capital Services.

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Comments (1)
Isn't JPM subject to usury laws? Has anyone looked for what smells very much like fraudulent conveyance in this transaction? Where's the outrage?
Charlee Sandmel, CFP
Former Chair, MAGNY
Posted by csandmel | Wednesday, October 10 2012 at 9:01PM ET
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