Monday, January 17, 2011

The coming muni meltdown--Charles Gasparino -

The coming muni meltdown--Charles Gasparino -
"The municipal-bond market is in crisis, with prices fall ing and investors running for cover -- and for good reason. Munis -- bonds sold by states, cities, counties and other localities to finance government operations -- are in trouble because the Ponzi scheme of Big Government is coming unglued. The markets are merely reflecting this reality, as they always do. The $3 trillion muni market was once regarded as the safest of all investments because the bonds are backed by government taxes. Now it's showing all the earmarks of the 2007-08 meltdown."

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But the economy is recovering. Just ask Ben Bernanke.

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