The 46: Convergence: Democrats, AIG, Banks, and the Muni-Bond Scandal: "Amidst all of the attacks on AIG bonuses, the release of the banks and states they paid money to shows an amazing connection to the muni-bond scandal."
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This is an extremely detailed and complete analysis of what could turn into another big blow to the economy.
2 comments:
the muni-bond market is worth about 2.6 trillion dollars, so the scandals do jeopardize the integrity of the system. On top of that we have already seen massive damage on a state and local level associated with these deals. Jefferson County Alabama is about to witness the largest municipal bankruptcy in history as part of these scandals. From Bill Richardson, to Gulf Breeze, Florida, to New Jersey, its just stunning in its scope and devastating in its implications.
Isn't it a strange thing that so little attention has been paid to this issue in the media?
I realize it is complicated, but it seems to me that after the events of the last six months, financial reporters would be screaming at their editors to start covering this developing situation.
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