sandag bet against big banks — and taxpayers are on the hook for millions /

In 2005,SANDAG was looking to maximize the possibilities for Transnet, its newly passed tax degree. So it did what other public agencies were doing: It played around with sophisticated financial arrangements that few understood. Now it has a roughly $100 million liability hanging over its head. Agency leaders say the deal is working as intended.

Source: voiceofsandiego.org