Muni Bonds downgraded. WTF

btw I posted thread after thread about the Muni bond melt down and every1 of em r

Its truly amazing to me that most muni bonds have not been relegated to junk status already. In the town I live in a large number of people have been laid off and others have had their hours cut back, yet, they are getting a $30 million bond issue. Maybe this is the next subprime meltdown as there have to be multiple pirates profiting off of this lunacy, same as in the subprime lending industry.

We talked about this here a whole bunch here is a thread I started about the insurer of these bonds.
Thread: US Government has to announce backing of muni insurers or DOOM will unfold.

I was on a whole bunch it seemed and it seems the fact that someone is going to need to prop this up and nothing in the situation has changed. It is being swept under the run.

Last Edited by Enlilson on 04/10/2009 07:19 AM

yea, some guy on the board said this would be first before interest rates plummet.

California State general obligation bonds are guaranteed by the state constitution. The state would have to dissolve in order to default on the bonds. The constitution requires that taxes be raised to pay them off.

Considering the state is broke I am thinkin taxes are about to go up in CA.

Property taxes are raised to pay those bonds. You don't pay the higher property taxes, your property is sold for taxes.

Every taxpayer should be at every meeting of the elected officers, whether you are talking city or county, and

RAISE HELL about spending that is raising taxes they cannot afford to pay.

Regular, Joe Six Pack US American worker is being taxed out of their homes.

The Chinese will be your landlord if you don't help stop the madness.

!!!!!!


I get angry about this, that people don't pay enough attention and won't get out and do anything about it. If you don't care for yourself, you ought to care something about the mess you are allowing that your grandchildren will have to deal with.

So I guess folks dont use search.