The outgoing Massachusetts Democrat, whose personal investments included roughly $900,000 of municipal bonds last year, says there's little reason for regulators to tighten oversight of general-obligation bonds.
Barney Frank: No Need to Regulate Disclosures for GOs
DEC 11, 2012 5:06pm ET
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"One of these things does not belong" is a catchy slogan and it comes to mind when looking at the latest tax policy ideas coming from Washington when looking at the municipal bond tax exemption. The exemption is not a result of the growth of a tax code designed to induce or reduce certain behaviors. Rather, it is the foundation for the flow of capital in a $3.7 trillion dollar market required to efficiently finance the nation's infrastructure.
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