The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: zebra4o1	9/7/2005 2:52:26 PM
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Armageddon for Muni Bond Investors via Prudent Bear municipal bond investors now face their greatest challenge since the Great Depression. The devastation caused by Hurricane Katrina in Louisiana and Mississippi will result in tax delinquencies and bond defaults, bankruptcies and mortgage foreclosures. For all those who have long wondered about just how solid and solvent the nation's municipal bond insurers are, the coming months will be the test. There are going to be some interesting days ahead for these insurers, who since they began doing business in 1971 have said they underwrote business to a zero-loss standard. That is, these insurers collected premiums with the expectation that they would never have to pay claims. quote.bloomberg.com

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