Preface
Experts Forecast: Municipal Bonds in Serious Danger!
Widespread Defaults Predicted!
Hundreds of Billions in Municipal Bonds at Risk of Default!
Municipal Bankruptcies Loom!
In 2010 and 2011, a relentless drumbeat of dramatic, and at times irresponsible, headlines—such as those paraphrased above—alarmed municipal securities investors with serious, and unwarranted, exaggerations of market risks. Pundits—talking heads—predicted large-scale defaults of hundreds of billions of dollars of municipal securities, and even bankruptcies. Certain news media presented variations on the theme. News stories frequently highlighted valid criticisms ...
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