interest rate swaps

Where is UC Sending its Money?

During the bubble, many large institutions got a little greedy with their investments. They wanted lots of return, but no risk. And that's what Wall Street was selling in some of their shadier business "growth areas." One such shady areas of Wall Street was the interest rate swap market.  And the University of California system got sucked in:
Over the last decade, the UC Board of Regents has engaged in risky deals with Wall Street banks called interest rate swaps...
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