Munis frozen out as credit crunch bites
- From: Vol 9, Issue 10 (October 2008)
- Category: General
- Region: Americas
- Country: United States
- Related Companies: Ambac
The latest financial crisis is hitting US municipalities hard. It will inevitably delay vital infrastructure projects, as Kathy Shandling finds out.
The US municipal bond market has suffered a steep decline in volume as a result of the failure of the monoline bond insurance sector. With the state revolving fund system also under strain, it is clear that the new President will need to deliver a new approach to municipal infrastructure funding as a priority.
Monoline insurers such as Ambac and ...
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