Alabama and Milan make bankers nervous
Mar 19 2010 The Financial Times
For while Alabama and Milan are rarely mentioned in the same breath, both locations now share something: they are making bankers nervous.
The reason is derivatives. Earlier this week, the city of Milan announced that it is suing Deutsche, UBS, JPMorgan and Depfa, for allegedly misleading the city on swaps that adjusted interest payments on some €1.7bn ($2.3bn) of deals. The banks deny the allegations relating to the case. The trial is scheduled to start in May.
http://www.ft.com/cms/s/0/3a6afdf0-32c2-11df-a767-00144feabdc0.html
19
March
Alabama and Milan make bankers nervous
Mar 19 2010 The Financial Times
For while Alabama and Milan are rarely mentioned in the same breath, both locations now share something: they are making bankers nervous.
The reason is derivatives. Earlier this week, the city of Milan announced that it is suing Deutsche, UBS, JPMorgan and Depfa, for allegedly misleading the city on swaps that adjusted interest payments on some €1.7bn ($2.3bn) of deals. The banks deny the allegations relating to the case. The trial is scheduled to start in May.
http://www.ft.com/cms/s/0/3a6afdf0-32c2-11df-a767-00144feabdc0.html