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nradov
on Sept 26, 2016
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Bay Area wages soaring but still can’t keep up wit...
The liens would be assets. Municipalities could generate immediate cash by issuing bonds backed by bundles of those liens.
psranga
on Sept 26, 2016
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What could possibly go wrong with securitizing interest streams? :)
nradov
on Sept 26, 2016
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There's nothing wrong with securitizing interest streams in general. There was only a problem with bundles of residential mortgages because the issuers and underwriters committed fraud. Fraud is extremely rare in municipal bonds.
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