Taxpayers billed $211 million in auction-rate failure

From Carnegie Hall in New York to the Los Angeles bus and subway system, American taxpayers are paying investment banks millions of dollars in fees for bond auctions that never happened. State and local governments will spend about $211 million this year for the failed sales, based on the 0.25 percent average annual fee charged on ...

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Taxpayers billed $211 million in auction-rate failure

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