ejhickey

State Budget Gaps and Investment Implications

Good article and much more realistic than the one I just read on CNN Money which minimized the risk of investing in California Munis. I also just read an article on the Daily Kos (liberal) which speculated about the billions of dollars that could be saved if California did not have to pay interest on its debt.

There is much more risk for invstors in State and local debt than investors perceive. As soon as someone says "Default can't happen" the caution flag should go out.