7/23 MUNICIDE ALERT: Largest Municipal Bankruptcy in History Could be filed next week
By John Galt July 23, 2011 In February of 2008, I wrote about the threat of “Municide” to the municipal securities industry and those who invested in funds or depended on them for their income. It was not meant to be an idle warning or casual threat, but a realistic look at what will happen eventually as the real estate markets collapsed and the Federal government’s impotence would impact the entire market. From the original piece I stated: Unfortunately for all of us, the failure to project future revenues and growth…