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San Bernardino's creditors square off with a group of Wall Street bondholders arguing they...

San Bernardino's creditors square off with a group of Wall Street bondholders arguing they should have the same status as Calpers in the city's bankruptcy proceedings. Among the creditors are Ambac and a unit of MBIA (MBI). A loss by the creditors would have major repercussions for municipal finance - look for the case to make its way to the Supreme Court at some point.
Comments (1)
  • jjdirsch
    , contributor
    Comments (2) | Send Message
     
    Muni bond trader:
    Calpers is just WRONG!! Unfortunately it will take a big legal bill to get there.
    12 Dec 2012, 11:39 AM Reply Like
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