Wall Street vs. Main Street (communities) literally: conspiracy to manipulate bond pricing

EE calls our attention to this Rolling Stone article, "The Scam Wall Street Learned From the Mafia: How America's biggest banks took part in a nationwide bid-rigging conspiracy - until they were caught on tape," by Matt Taibbi.

It's about bid rigging, which lowered the return to municipalities and other local government entities from the sales of municipal bonds.

Of course, local governments have been getting nailed by similar kinds of financial shenanigans by Wall Street financiers for a long time, from San Diego's bankruptcy because of pension fund investment problems, to the bankruptcies of Harrisburg, Pennsylvania and Jefferson County, Alabama, because of funding fraud abetted by either contract fraud (Jefferson County) or product failure (Harrisburg) which triggered increasing costs and not enough money to rectify the problems.