Nick Stames 
Member since Mar 15, 2012


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Re: “Oakland's Toxic Deal with Wall Street

"When the bonds are retired, the swaps contracts remain unchanged." ... and are thus no longer a hedge. What on earth the city of Oakland is doing with such a thing is the real scandal. If you want to hedge a bond, at least hedge it.

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Posted by Nick Stames on 03/16/2012 at 4:58 PM

Re: “Oakland's Toxic Deal with Wall Street

Maybe Jim Jones can explain why the swap still exists given that Oakland refinanced the bonds in question in 2005? I guess I would have liked to see this covered in the article.

Posted by Nick Stames on 03/15/2012 at 7:13 PM

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