The post is a repeat of "The Bankruptcy Cat Is Out Of The Bag And Some States' Bonds Will Tank" with proposed Federal Bankruptcy Law Chapter 10 which is now being faxed to the House and Senate Leadership and certain Committees' leaders.
Condensed excerpt:
To Members of Congress:
... Republicans aren't going to bailout States, but Cantor in the House says State bankruptcy will face an uphill battle and "analysts -- and states themselves -- are concerned that opening up a bankruptcy option would spook the buyers of state debt, driving up interest rates and making borrowing more expensive."
Except the cat is out of the bag, because of above linked article and Bob Brinker, Long-time Radio Financial Adviser has recommended, "The six that really jump out for me would be Arizona, California, Illinois, Louisiana, New York and New Jersey.... I would not purchase their municipal securities.....that's just my opinion."
Democrats in House and Senate must help States in trouble to force bondholders to share the burdens of fiscal excesses, since they too profited via said bonds in the excess debt. ...
Proposed Bankruptcy Chapter 10 and full text text at this link
Full text of The Bankruptcy Cat Is Out Of The Bag And Some States' Bonds Will Tank sent to:
Harry Reid, 202-224-7327;Mitch McConnell 202-224-2499
Jon Kyle 202-224-2207; John Boehner 202-225-0704
Eric Cantor 202-225-0011;Kevin McCarthy 202-225-2908
Nancy Pelosi 202-225-4188; Steny Hoyer 202-225-4300
Paul Ryan 202-225-3393 House Budget Committee
Chris Van Hollen 202-225-0375 House Budget Committee
Spencer Bachus 202-225-2082 House Financial Services
Barney Frank 202-225-0182 House Financial Services
Max Baucus 202-224-9412 Senate Finance Committee
Chuck Grassley 202-224-6020 Senate Finance Committee
Tim Johnson 202-228-5765 Senate Banking
Richard Shelby 202-224-3416 Senate Banking
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment