Wingecarribee Council making millions on Wall Street

[creampie]

Wingecarribee Council making millions on Wall Street by trading your council rates and fees.

The Wingecarribee Shire Council in NSW has filed a $59 million claim alleging it was misled when Grange Securities sold it high-risk CDOs (collateralised debt obligations) that subsequently dived in value when the subprime crisis engulfed global credit markets last year.

Read more:
http://www.theage.com.au/business/counc ... -49zl.html