Quote:
Originally Posted by benhogan
Brace yourself for more municipal bankruptcies. Even the bonds with municipal bond insurance are in danger because a lot of the insurers themselves are insolvent.
Welcome to the new normal.
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No kidding.
Rhode Island just past this law.
A new Rhode Island law that guarantees municipal bondholders will be paid back even if the cities and towns in which they invest go bankrupt could spur a nationwide trend -- if courts allow it to stand.
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