Page Perry Partner Addresses Bond Swaps
Page Perry partner Craig T. Jones was quoted in the Indianapolis Business Journal on July 3, 2010 in an article by Cory Schouten on how local governments across the country have lost billions of dollars on interest rate swaps that were designed to lower the cost of municipal bond interest payments but in fact ended up costing taxpayers more. In the article, Jones stated that public officials were either misled or inadequately advised about the risks of such swaps, and that local governments may have grounds for litigation against the brokers and investment bankers who recommended them.