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Re: First round of Obama bonds?
They are talking about "Barack Obama’s Build America Bonds.", to call them Obama bonds would be misleading and not the same as Carter Bonds
Looks more like something for the "corporate" state .
While Build America Bonds opened credit markets to municipalities after the collapse of Lehman Brothers Holdings Inc., states and cities are being penalized compared with corporations, which are 90 times more likely to default than local governments, according to Moody’s Investors Service....
‘Disserving Their Constituents’
The difference in borrowing costs shows elected and appointed officials are failing taxpayers, said Stanley Langbein, a banking and tax law professor at the University of Miami and former counsel at the U.S. Treasury in Washington.
Issuers are “supposed to get the best rate available,” Langbein said. “To me they’re disserving their constituents. Their responsibility is to get the lowest rate available, which is the corporate rate.”
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