Are You Paying For Watercare’s Gambling With Derivatives?

A couple of months ago Water Care started to charge incredible sums for water in the Auckland region.

Here is a Newspaper article about how derivatives trades can go (no, are programmed to go) terribly wrong. In it Watercare is quoted as having made a $ 60 million loss on its Derivatives gambles. Could it be that Aucklanders are paying the price for their bad decisions and for their gullibility in buying into the international derivatives scam. Aucklanders need to start asking questions and above all read up on the manipulation of the LIBOR rates by all big banks.