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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (117614)	1/26/2009 10:18:21 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

I am not sure. But check out the wealthiest cities in America and notice how many of them are in New York. Is Oyster Bay going to allow its sewers to decay? Nope, they'll float new AAA bonds and will be a great credit. NYU issues muni bonds, and it is a money making machine. I would rank New York's AAA rated issuers as good as any anywhere. What we need to do before buying a fund is not turn up our noses because they are from New York, but check the holdings for the number of AAAs. If they have too many state and City bonds in the A category, you may want to back off. But 40-50% AAA with an average rating of AA is great, even in New York.