Between debating the location of a proposed dog park and discussing taxi permit fees one night last month, the city council in Oakland, California, turned to severing ties with Goldman Sachs Group Inc.
Water and electric customers in the Seattle area, most of whom pay U.S. taxes, will pay an additional $14 million to get out of an agreement with American International Group Inc., the insurance company rescued from insolvency in 2008 by American taxpayers.
The same bankers who sold Massachusetts interest-rate swaps that blew up the debt financing for the so-called Big Dig road and tunnel project in Boston -- costing taxpayers $100 million -- are getting even more money to fix what they broke.
Martha Haines says she was powerless at the Securities and Exchange Commission to prevent banks from selling derivatives to state and local governments that cost taxpayers billions of dollars -- mostly in penalty fees to Wall Street -- during the worst financial crisis since the 1929 Crash.
Hreidar Mar Sigurdsson, the former chief executive officer of Kaupthing Bank hf, was arrested after an investigation into the collapse of Iceland’s largest bank, two people familiar with the probe said.