MUST READ: Nevada Treasurer Shreds Meredith Whitney And The Other Muni Doomers
June 23, 2011 – 2:11 am
We’re nearly halfway through the year, and the muni market has not imploded.
In fact, it’s the opposite: Munis have rallied, and anyone who dumped their munis after listening to Meredith Whitney has regretted it.
Of course, things take awhile to play out, and the doomers might still be right.
But are they?
By far the best thing we’ve read lately on the subject is this letter published (via @munilass) by the Nevada state Treasurer Kate Marshall, which is a response to Meredith Whitney and a CNN Money article which contained the line: Today, debt service absorbs half of Nevada’s budget, and 40% of Michigan’s.
Tags: Meredith Whitney, Muni