Buddy

One Question for John Carney on Muni Bonds

I have not read John Carney. There are some very good municipals in the market. For an investor, most never keep up with the credit Many years ago when I started in that business, you had to buy and sell bonds based on its qualities and maintained a vigilant watch until they matured. You know things have a way of changing don't they? Within the last decade, investors bot the insurance and payed no attention to the underlying credit. (Today it is easy to access the credit quaility of the bond). Regulatory bodies should set standards for rating agencies to publish why and how ratings were established. By-the-way, the SEC, NASD, MSRB, FASB and other regulators are only trying to narrow the spread to the dealers and could care less about credit. AAA insured, tier-one capital, ain't it great.
Today there is a huge institutional market, but you are correct, it is dwarfed by retail.
I enjoyed your ariticle.