Articles

Bond swaps cost city units $93M in penalties

Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce
borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied
on misguided assumptions, and taxpayers paid.

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New securities law lets some victims recoup losses

A new state law allows the securities commissioner to award up to $15,000 or 25 percent of unrecovered awards to victims who
can prove that a court or other agency awarded restitution for fraud that occurs after July 1 of this year.

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Lawmakers approve big Wall Street revamp

Bill headed for Obama's desk would reform financial regulation in effort to protect consumers, curb risks, boost surveillance
of threats to markets, and give regulators more emergency powers to avoid future bank bailouts.

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Durham willingly turning over assets in Fair bankruptcy

Tim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to
the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on
June 24.

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OneAmerica to acquire McCready and Keene

McCready and Keene Inc. is the fifth-largest employee benefits firm in the Indianapolis area. It employs 95 people nationally, 82 of them in Indianapolis, according to IBJ research.

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