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Metropolitan Water District Has Paid Almost $88M to Get Out of Risky Swap Deals

The Metropolitan Water District of Southern California, a powerful regional agency that provides water to 19 million people, paid nearly $88 million to exit interest-rate swap deals, and still has a $71.5 million liability on the books. Such payouts and the liability that remains show Metropolitan got the raw end of the deals and lost. 

 

Tim Holler