The 35% subsidy from the federal government, i.e. taxpayers, to the states is about to end. $185 billion in these bonds was issued in 2010. With the House changing hands next year it is unlikely the program will be resurrected. Watch for a very rough year for muni bonds in 2011.
- Why Saudis Decided Not to Prop Up OilBehind OPEC’s decision not to cut crude output was Saudi Arabia’s view that America’s energy boom poses a new threat—one factor in a growing distance between the two allies. […]
- Not Quite Checkmate for the BundesbankThe Bundesbank is now powerless to stop the eurozone’s debts becoming mutualized on the ECB’s balance sheet. But acquiescing might secure for Germany some degree of control over surrender terms, says Simon Nixon. […]
- ICE Has Unlikely Ally on Trading ProposalJeffrey Sprecher, chief of Intercontinental Exchange Inc., recruited an unlikely ally in his efforts to revamp the U.S. stock market and bring more trading back onto exchanges. […]
- Why Saudis Decided Not to Prop Up Oil