Louisiana sues Merrill over Superdome bonds

If you’ve been wondering what’s up with the auction-rate bond crisis, it’s still ongoing. In the latest move, Louisiana’s stadium authority has sued Merrill Lynch over the bonds it issued to refinance the Superdome, arguing that Merrill was artificially inflating the market for such bonds, and when the market later collapsed, the state was left with millions of dollars a year in added interest payments. They’ll have to get in line.

Leave a Reply

Your email address will not be published. Required fields are marked *.
NOTE: Both personal attacks on other commenters and trolling (posting inflammatory remarks solely to start a fight) are not allowed in comments, and will be deleted. Any commenters who repeatedly ignore these rules may be placed on moderation, or banned.

HTML tags are not allowed.

777,736 Spambots Blocked by Simple Comments