Re: understanding liability

On Mar 31, 10:20 pm, "Elizabeth Richardson"
<erich...@[EMAIL PROTECTED]
> wrote:
> >
> If the State of California goes bust, we've got more problems than any
> federal deposit insurance will fix.
>
> Elizabeth Richardson

Very well said, as so many municipalities are realizing, it's easier
and cheaper to publish and stand on their sound financial position
than it is to purchase insurance some have called "worthless."

The appraisal and management of so-called "risk" is so awfully,
horribly, abysmaly warped these days that municpal tax-free rates are
higher than taxable Treasury rates.

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