When the foreclosure crisis coverage abates - don't worry - our friends in the financial news media will spin a new news cycle sure as you know what.
Then - PROPERTY taxes, the essential underpinnings of nearly all municipal bonds (estimated market size in the multi trillions) come into better 15 megapixel relief; watch out for the real fireworks to go off...as described in a recent post here in "S15" Where (not if or when) will it end?
http://fiduciaryforensics.blogspot.com/2010/09/where-will-it-end.html
TAMPON just like TARP to the "rescue" - not:
And then investors will recognize the value of independent due diligence and cease to wonder who and what due diligence was performed as it relates to suitability and breach of fiduciary duty in days gone bye. When investors in Tax Free money market funds, tax free Auction rate securities, commercial paper and longer term issuance wake up to the questions about the foundation of municipal finance and elected officials and investment banks - there you have it; TAMPON (Troubled asset MUNICIPAL political oversight needed) will be enacted to stem the hemorraging...but there seems to be an increasing number of homeowners bereft of an income, bereft of confidence in how taxes are spent and bereft of any thing but every man for himself; can you blame him?
Ending the siesta on the taxpayers' dime - one easy to read blog at a time.
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