Five Wisconsin School Districts Are on Brink of Losing $200 Million
November 19, 2008
A consortium of school districts sought to invest funds to pay for employee health care and retirement obligations. They intended to invest borrowed funds in relatively safe corporate bonds, but instead invested in collateralized debt obligations that have now lost 90% of their value. The story emphasizes the importance of well developed and monitored school board investment policies.
http://www.npr.org/templates/story/story.php?storyId=96723051