Stockton’s Junk Bonds Threaten Muni Market
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  • bff426

    The losses on the bonds will be taken by Assured Guarantee and National Public Finance Guarantee, both insurers. The larger point of the effect on the muni market is correct. Already some cities can’t get insurance and are paying higher interest.

  • free_agent

    Though the Reuters story says, “Stockton … is eliminating its health program for
    its retired employees.” So the retirees are taking part of a haircut.

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