While in New Orleans last week, Vice President Joe Biden said the federal government will allow local governments in Louisiana and Mississippi to seek forgiveness of special community disaster loans they received after the hurricanes of 2005.

Biden said the governments seeking forgiveness must have operating deficits for the three full fiscal years following the storms.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.