When Meredith Whitney came out talking negatively about municipal bonds she did not know what she was getting herself into. This is America by golly, and we don’t take to kindly to people walking around saying that we are gonna default on our debts. We may walk away from our homes or just sit in them without paying the mortgage for a few years, or run up $15,000 balances on 10 pre-approved credit cards and then declare bankruptcy, or even buy 3 cars, a boat and a jet ski without being able to make one payment, but that is us as individuals. Totally different from a Country, State or Municipality defaulting. Where does she get off??
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