New problems in the municipal bond market are resulting in cities and municipalities paying record-high interest rates. And with cities making less from property taxes, some have no choice but to declare bankruptcy. Jill Barshay reports.
Bank secrecy laws have helped make the European principality of Liechtenstein a tax haven. Now a secret list of account holders at a Lichtenstein bank has been sold to authorities in Germany and Britain. John Dimsdale reports.
Bond issuers and banks are joining with big-time investors in getting out of the auction-rate securities market which, among other things, has helped state and local governments fund public works projects. Bob Moon reports.
Several hundred wealthy Germans are suspected of evading taxes with the help of a bank in Lichenstein. Scott Jagow talks to reporter Brett Neely in Berlin about the scandal and the "sport" of tax evasion.