Governing.com: Municipal Bankruptcies Governing provides a dynamic map concerning municipal bankruptcies. It and ZeroHedge offer plenty of commentary, so we won’t regurgitate. For perspective, however, keep in mind the size of the municipal market is $3.7 trillion. Also, Warren Buffet has written $16 billion of municipal credit default swaps (CDS), which might imply that he believes …
1886 Bank Run: “The War of Wealth” As Mitch states in his recent blog titled “Greece Public Finances Face Collapse…“, if you have your money in Greek, Spanish, or Portuguese banks, get it out – now.Meanwhile, Niall Ferguson, a Harvard University history professor, urges people to remember what happened to begin the second half of …
The chart provided by Financial Times yesterday regarding a “AAA Bubble” is mostly self-explanatory, although the article has some good off-links. And, for those who want a refresher on credit ratings, a good starting point is this Wikipedia article. Financial Times; World Issuance of AAA fixed-income
