In the next few years, the Treasury plans to completely "wind down" Fannie Mae and Freddie Mac, and the impact on the pre-refunded and escrowed-to-maturity municipal securities will be devastating.
Commentary: The Inevitable Bursting of the Muni Market Bubble
APR 11, 2013 1:32pm 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.
the bond buyer conferences
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