After ten years of preparation, a federal trial has exposed the collusion of Wall Street's major banks and finance companies to rig the bidding on municipal bonds, a business worth $3.7 trillion. In the exact words of one settlement of the case, "They stole from virtually every state district and territory in the United States . That includes schools, hospitals, libraries and nursing homes." Matt Taibbi, Contributing Editor for Rolling Stone magazine and author of Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History, has more on the biggest financial scandal you've never heard of before.
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