Muni Think

Herbert J. Sims senior vice president Richard Larkin makes a plea to keep municipal bonds tax free.

When the Obama administration argues that more financial regulation is needed to set us on the path to economic recovery, I would like to respectfully submit that the Great Recession could have been avoided, but its cause can be placed primarily on the shoulders of government, not on greed on the part of investment bankers and business people.

As we move into 2013, it is becoming increasingly clear that the U.S. public policy spotlight will continue to shine brightly on the municipal securities market.

Over the past several months, both dealers and nondealer advisors have made inflammatory public statements accusing the other of shoddy and questionable practices. Neither side, however, has a monopoly on competence or integrity.

If you take Kansas Gov. Sam Brownback at face value and think that Kansas is going to be able to take business away from Texas because of its new state tax structure, you may want to think it over.

The U.S. public policy spotlight shined brightly and consistently on the municipal securities market during 2012.

The fiscal cliff proposal being considered, which would exempt only 28% of municipal interest payments from federal tax, would do far more harm than good. A much better way to limit tax-exempt interest would be to reduce the size of the tax-exempt market.

Federal budget brinksmanship is endangering the critically important process by which municipal issuers purchase Treasury securities for refunding escrows.

The fiscal cliff negotiations have brought taxes to the forefront of people's minds. What does it all mean for municipal bonds as an asset class?

After a difficult few years, municipal floating rate notes are regaining a foothold in the market.