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General Obligation vs. General Fund Securities

Commentary: The erroneous predictions by some pundits of impending disaster in the municipal securities market can be given two responses.

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Comments (1)
A very important distinction that is likely lost on many of the holders - both those that believe their general fund securities to be safer than they are and those that may sell based on defaults of less credit worthy bonds. For most investors, general fund or general obligation just look like municipal debts. What will also be interesting are the attempts other constituents will put forth to challenge even the general obligation bond strengths. Though such efforts may be tilting at windmills, the desperation of the effected, may prove to undue even these superior debts.
Posted by khatch | Wednesday, August 15 2012 at 12:01PM ET
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