Wednesday, January 7, 2009

Corruption: CDR & Abq

In today's Wall Street Journal (that is, 1/7/09), P A4, the next to last paragraph of the Richardson story reads, "In another case, the IRS is conducting audits into whether CDR and French bank Societe Generale SA fixed the prices of financial products used for proceeds from bonds issued in places such as Albuquerque, N.M. The IRS has said it believes the companies structured fees in a way that violated arbitrage regulations. Societe Generale declined to comment; CDR's Mr. Rubin called the issue "a historic, long-tailed matter."
A friend wonders about links to the housing authority.

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