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Muni Defaults From Katrina?

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Oct 9, 2005 9:28 pm

Sorry, for the additional thread. I tried to post this under the thread "Katrina=Muni Defaults?, but (the server?) couldn't find the page.


In the Wall Street Journal, page C4, is some additional information on this saga. Here are the highlights:

- White House opposes muni-bond bailout.

- Senators Landrieu and Lott have called for provisions preventing local governments from declaring bankruptcy.

- Moody's investment service has placed 51 muni-bond issuers (from Miss. and La.) on their watch list. The bonds on the watch list total $9.46 billion.

- La. officials are attempting to get federal permission to refinance some muni's.