Month: December 2010

Crying Wolf about Municipal Defaults

‘Tis the season of white elephant gifts, a popular holiday game where participants exchange gifts whose value exceeds their usefulness. Unfortunately, it is also the season of Wall Street analysts crying wolf about the municipal bond market – warning of white elephant projects and near-bankruptcy state and local governments. Wall Street analyst Meredith Whitney leads

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Communities Don’t Build Themselves

Most people have never heard of Bob Holmes, Egidio Teixeira and Nelson Merced. Likewise, the names of George McLean and Vaughn Grisham mean very little to most folks anywhere in America. However, for the residents of Dudley Street in Boston or to the small business owners in Tupelo, Mississippi, these names, when uttered, evoke the

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