Blackrock PA Strategic Municipal Tr is a perpetual closed-end municipal bond fund. Its objective is to provide current income exempt from regular Federal income taxes and Maryland personal income taxes.
“The most alarming thing ... is the level of complacency,” says Meredith Whitney, warning about a financial meltdown in state and local governments "in the next 12 months." The size of this calamity? "Fifty to 100 sizeable defaults ... hundreds of billions of dollars."