The Muni-Bond Debt Bomb by Steven Malanga, City Journal Summer 2010: "Rick Bookstaber, a senior policy advisor to the Securities and Exchange Commission, shook the market recently by observing that it has all the characteristics in place for a crisis that might unfold like the home-foreclosure mess: a few municipalities could declare bankruptcy, decline to honor their debts, and unleash “a widespread cascade in defaults.”"
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There are always predictions of financial Armageddon. The scary thing now is that the people who are saying these things aren't regulars on the Art Bell show. They are reputable professionals who aren't peddling books or trying to sell you gold.
1 comment:
It's Coast to Coast AM not the Art Bell show!
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