Talking about Bernanke Is Being Grilled About Muni Debt Because Republicans Want The States To Collapse

 

Quote

Bernanke Is Being Grilled About Muni Debt Because Republicans Want The States To Collapse
Ben Bernanke is speaking in front of the Senate today, and one of the big topics during the Q&A session is the state of muni finances.  The Fed Chairman doesn’t expect any state to default, but he also says he doesn’t believe it’s within his mandate to bail out the states (e.g. by buying muni debate) should it come to that.

The Senators keep hammering on this point, and there’s a reason for it. The GOP is hoping for states to collapse, and they want to be absolutely sure nothing gets in the way of that.That’s not our opinion… James Pethokoukis, the conservative Reuters columnist, reported in December that republicans have a "secret plan" to pusht he states into bankruptcy. Part of that plan was the non-inclusion of the Build America Bond program in the lame-duck tax deal.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s