Richard Ryffel, senior lecturer in finance at Olin and a former public-finance banker at Bank of America Corp. tells Bloomberg Business that many of the interest-rate swaps negotiated before the 2008 financial crisis were so complicated and speculative that there was no benefit. Bloomberg reports on three counties that have actually profited in a big way from the swaps.
Link to article, “How One Mississippi County Played Wall Street’s Fiddle” published
7/28/15.