TITLE

Wisconsin Schools Renege on Depfa Notes

AUTHOR(S)
Shields, Yvette
PUB. DATE
July 2010
SOURCE
Bond Buyer;7/29/2010, Vol. 373 Issue 33358, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that all the school districts in Wisconsin are going back on their moral obligation pledge to pay back asset-backed notes issued by the trusts and sold to Depfa Bank PLC. It mentions that the school districts were involved in a failed investment scheme that was tied to financing the non-pension retiree health care trusts. It notes that the Securities and Exchange Commission has launched an investigation on the investments which included credit default swaps.
ACCESSION #
52721997

 

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