In a ruling Wednesday, the federal judge overseeing Jefferson County, Ala.'s Chapter 9 case repeatedly blamed the state of Alabama for precipitating the county's bankruptcy filing in November 2011.
Judge Blames Ala. for Precipitating Jefferson Co. Bankruptcy Filing
DEC 20, 2012 1:12pm 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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