Federal Reserve Chairman Ben Bernanke kicked off Year Six of the Financial Crisis by announcing a mortgage bond buyback scheme dubbed historic as the Fed is now focused on the employment woes of the nation. Will it work? One only need look as far as a Federal Reserve Bank president, Charles Plosser, to find a cogent critic. Thank goodness this is America and one can voice dissent. (more…)
Posts Tagged ‘Municipal bond’
Municipal Bonds Are Unique
Municipal bonds have been in the press more often lately. The Federal Reserve recently published a report on defaults in the municipal market precipitating arguments as to what constitutes a default as well as what constitutes a municipal bond. Such arguments bolster our position that while municipal bonds in the aggregate total almost $4 trillion, the marketplace is highly fragmented and the marketplace is a collection of tens of thousands of unique financial instruments too numerous to count. (more…)
Bankruptcy: When The Can No Longer Can Be Kicked
As the financial crisis enters its sixth year we find municipalities and their bonds increasingly in the news. Municipal woes appear to be on the rise. Therefore it is important to realize how unique each municipality is as well as how unique all of their municipal bonds can truly be. There is no such thing as a generic municipality nor is there any such thing as a generic municipal bond. Every municipality is different. Every municipal bond is different and therein lies the opportunity for you, the municipal bond investor.
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