Debt Rattle, February 21 2008

Updated 2.45 pmIlargi: Look at the tone of this article. Bloomberg is mostly boringly neutral, but this is downright nasty.Auction Debt Succumbs to Bid-Rig Taint as Citi Flees The collapse of the auction-rate bond market, where state and local governments go to raise cash, demonstrates that regulators are no match for Wall Street. Hundreds of auctions have failed this month, sending borrowing