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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (61262)	6/3/1999 2:40:00 AM
From: S. maltophilia	Read Replies (2) of 132070

Are these folks like the $50000 car buyers or the DELL buyers? <G> From today's WSJ, Credit Markets column: interactive.wsj.com A growing number of cities are issuing new bonds with the intention of plowing most of the proceeds into the stock market. Their hope is that they will rack up huge gains that will more than pay the interest on the bonds. .... The city of Worcester is allocating 70% of its recent $219 million, 29-year bond issue to equities, a category that includes real-estate investments. The rest is going into bonds, including junk bonds. "We naturally wanted to play the equity markets like everyone else," says James DelSignore, the city's auditor.

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