Big banks are enticing nonprofits into contracts that are costing them billions

(World Scientific) For decades, big banks have targeted hospitals, schools, municipalities, state and local governments, universities and other nonprofits across the United States to sell them exotic financial contracts known as interest rate swaps. These contracts have led to wealth transfer to big banks amounting to billions of dollars as well as devastating consequences in the lives of the larger public.

from EurekAlert! - Social and Behavioral Science http://bit.ly/2v0lEtL