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Upcoming Crisis in State and Municipal Bonds

December 21, 2010

University of California Berkeley, one of the nation's finest - getting clobbered by state budget cuts

Here is a segment on another part of the financial crisis: the approaching bankruptcy of state and municipal budgets and with it, the failure of states and cities to meet their bond obligations. The last stimulus package helped a bit, but now the money is running out. Used to be that among the safest investments were municipal and state bonds. No more… Here is a CBS `60 minutes’ segment. Very well done.

2 Comments leave one →
  1. December 30, 2010 9:37 am

    quite true..and this affects the states as well. and…it is about to hit.. cheers..

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  1. 2010-’11: From Austerity to Collapse? « Reflections on a Revolution

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