Contra Costa sues major Wall Street institutions over alleged bid-rigging scam - Inside Bay Area

Contra Costa sues major Wall Street institutions over alleged bid-rigging scam - Inside Bay Area: "Contra Costa sued nearly every major Wall Street financial institution Wednesday, arguing they conspired to fix bidding on its municipal bond investments, costing the county perhaps millions of dollars in higher interest payments, fees and credit risks.

The lawsuit contends the conspiracy involved more than 50 investment firms, banks and brokers — including many bankrupt companies rescued or bought out in the recent Wall Street collapse — conspiring to get more lucrative interest payments and fees from public entities, including Contra Costa."
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And it is bigger than that. Much bigger. Many counties are involved, the money involved is huge, and this is not just a private civil suit. The FBI is involved.