The New York Times today released a story that may very well be the end to Sen. Michael Bennet’s chance of being elected. The Times article explains the exotic deal that Bennet struck with JP Morgan Chase in 2008, shortly after becoming the superintendent of Denver Public Schools.
The deal was a complicated fixed-rate bond swap transaction that hinged on the idea that interest rates would remain high. They didn’t, and the deal went south. The outcome of Bennet’s financial wizardry has cost the DPS over $100 million dollars in interest and fees, so far.
Read the New York Times story: Exotic Deals Put Denver Schools Deeper in Debt
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