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

To: Bonnie Bear who wrote (48240)2/22/1999 2:02:00 AM
From: Tim McCormick  Read Replies (1) | Respond to of 132070
 
BB, let's not exaggerate now. He did say tax-free bonds not municipal in the narrow sense. The smart buyers, or those with good brokers buy stuff like State of TX or FL or MN bonds or prerefundeds/ETMs. No state has defaulted since the civil war and the later are Treasury backed. I know of some wealthy families who have assembled large portfolios of tax-free bonds which are entirely state and federal government guaranteed. Tim



To: Bonnie Bear who wrote (48240)2/22/1999 9:19:00 AM
From: Eggolas Moria  Respond to of 132070
 
tax-free bonds are like junk bonds in a meltdown...

Not sure whether this is a serious comment or not. But investment grade general obligation and essential service revenue bonds are a safe harbor in a storm.


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