House's Frank Says Muni-Bond Ratings Are `Ridiculous' (Update1)
Story date: 2008-03-12 05:38:00
Added on: 2008-03-12 05:59:15
Bloomberg - Because ratings are typically lower on the municipal scale, local governments have paid insurance companies to back their bonds with AAA ratings, seeking to reduce borrowers' costs. With insurers' ratings under pressure because of losses on mortgage ...
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