2008-02-21 — minyanville.com
'The ARS (Auction Rate Security) market has frozen up since then and the municipal bond market itself has frozen up as a result of insurers like MBIA (MBI), Ambac (ABK) and FGIC’s business models being brought into question. Add to the mix a slowing economy and falling tax receipts as a result of the real estate debacle (which is now spreading to commercial real estate) and you have a recipe for disaster.'
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