Billionaire hedge funder George Soros, speaking to Maria Baritoromo on CNBC, said today that the Muni bond crisis will be this year’s big “drama.”
Soros compares the muni situation to Europe, where local governments can’t print their own money.
Of course, Meredith Whitney predicted a massive wave of muni defaults.
He also said that the Euro crisis is now in the process of being resolved, but that the euro has clearly had the opposite effect as intended with weaker countries coming down, and the strong getting stronger.
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