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IPFS News Link • Government Debt & Financing

Meredith Whitney: Hundreds of Billions of Muni Bonds Will Default in 2011

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Comment by Powell Gammill
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'Ignore those fools and pay attention to Oz:' ;-D

.... The muni bond market breaks down into two very distinct types of credits. Some bonds are at risk in tough times; others really are not. The categorical tarnishing of all muni credits, as on the recent 60 Minutes segment, is stunningly bad commentary. Credit is defined as the ability to pay and the willingness to pay. Municipalities face pressure on both fronts since they are, at heart, political bodies....

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