In response to:

Cut State Debt; End the Muni-Bond Exemption

StephenWC Wrote: Nov 04, 2012 11:02 AM
This is something to think about.... OBAMA'S OCTOBER SURPRISE GONE BAD: WAS THE PLAN TO HAVE THE U.S. AMBASSADOR KIDNAPPED, TO BE SWAPPED FOR THE BLIND SHEIK? Was Obama Dealing With the Muslim Brotherhood Behind the Backs of the American People? BENGHAZI-GATE: Did two heroic SEALs ruin Obama's October Surprise? It's a conspiracy theory, to be sure, but "Kozy" asserts the Benghazi attack was an "October Surprise" gone awry thanks to two SEALs who weren't even supposed to be in Benghazi. Google "Kozy October Surprise" if you want further information on this plausible theory.

Big government programs and special tax-code carve-outs often lead to corrupting ties between government officials and private interests. The Washington Post today discusses the municipal bond industry:

In just about every election, local governments put measures on their ballots asking voters to allow the sale of bonds so that municipalities can finance roads, schools or other projects. Interested parties often form campaigns to help pass or crush these initiatives.

And sometimes the investment banks that donate to those campaigns get hired to sell the bonds to investors after an initiative passes, raising the possibility that they got a leg...