Bill Gross strikes back at Meredith Whitney's latest dire forecast for municipal defaults,...
Bill Gross strikes back at Meredith Whitney's latest dire forecast for municipal defaults, doubting that many local government bankruptcies will occur. “Ultimately, municipal bankruptcies will be at a lower level... I don’t subscribe to the theory that there will be lots of them." He praises Illinois’ passage of higher tax rates to help close a $13B budget gap.
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