thays a articull in todays new york times on the one-company gang known as Morgan Keegan:
LEWISBURG, Tenn. — Five years ago, this small factory town was struggling to pay the interest on a bond for new sewers. Bob Phillips, Lewisburg’s part-time mayor and full-time pharmacist, was urged by the town’s financial adviser, an investment bank named Morgan Keegan & Company, to engage in a complex financial transaction to lower interest rates.
When a Lewisburg official attended a state-sponsored seminar intended to lay out the transaction’s benefits and risks, he was taught by investment bankers from Morgan Keegan.
And when Lewisburg decided to go ahead with the transaction, who was there to make the deal? Morgan Keegan.
In January, local officials were shocked to discover that annual interest payments on the bond had quadrupled to $1 million. Morgan Keegan, they said, did not serve them well in any of its roles.
tiz a panefull read ...
- Inside a Corrections Corporation of America for-profit prison (3 replies)
- UK votes to leave EU, PM Cameron resigns (18 replies)
- You can tell it's summer (20 replies)
- The gun debate, face to face (65 replies)
- Ralph Stanley RIP (2 replies)
- Up against the wall: Sanders supporters disrupt Nevada convention, issue death threats (62 replies)
- Knox area financial counseling resources for the poor? (8 replies)
- Democrats staging sit-in on House floor (42 replies)
- Happy Pollinators Week! Please, take action (3 replies)
- "Make America White Again" (4 replies)
- DOJ: 301 defendants charged in $900 million Medicare/Medicaid fraud bust (2 replies)
- City Council workshop on payday lending zoning ordinance (1 reply)