Another night, another pair of headlines that won’t help the muni bond flow situation.Exhibit A: NYT: State Bankruptcy Option Is Sought, Quietly.
Basically at the behest of Newt Gingrich, Senators and Congressmen in DC are looking for a new law that would allow states to declare bankruptcy and restructure their debts including to (actually especially to) unionized public workers.
Well, that one’s kinda obvious, no?
So yeah, expect this chart to get even more dramatic.
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