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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (17570)	2/20/2004 9:06:02 PM
From: Wyätt Gwyön	Respond to of 306849

How about a municipal bond, in the case of a state retirement system? i guess it depends what's backing the state's pension. is it "full faith and credit" of the state, or is it, "hope"? muni bonds themselves can be priced differently depending on the backing (e.g., backing by a particular variable revenue stream). i don't know if there's a precedent for state and municipal pension funds expropriating taxholder wealth to cover their funding shortfalls. didn't a bunch of govt pensions go under in the Great Depression?