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Hope you or your pension is not holding U.S. Muni Bonds

 
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User ID: 995473
Canada
03/01/2011 08:05 AM
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Hope you or your pension is not holding U.S. Muni Bonds
Angry investors finding themselves blindsided by bad news

1) Amid governments' financial woes, angry investors are finding themselves blindsided by bad news.

2) Below are examples of muni-bond investors getting caught off guard by bad news in recent months:

A) The Clay Gas and Utility District of Clay County, Tenn., didn't file disclosures for 10 years, until one in November saying it didn't expect to make future payments.
B) Chowchilla, Calif., defaulted on its bonds used to renovate city hall earlier this month. The city, which bills itself the "Gateway to Prosperity," had never filed documents notifying investors that a default was coming.
C) Some investors (like Helen Kirkpatrick) are being offered 50 cents on the dollar for their bonds by their brokers.
D) Etc… [link to www.marketskeptics.com]





GLP