Treasury Bidding: More Players, Please
The Salomon Brothers scandal uncovered a paradox in the government-securities market. Treasuries are the foundation of the world's biggest, most liquid, and most efficient financial market. But Salomon's submissions of improper bids in eight Treasury auctions exposed a seamier side of this business.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.