----- Original Message -----
Sent: Saturday, February 16, 2008 2:10 PM
Subject: [TimeandCycles] Muni Bonds Are Shunned As Credit Crisis
Widens
The credit crisis is spreading
from Wall Street to Main Street.
Investors are starting to shun
municipal bonds, the debt securities that states and cities issue to fund
everything from sewer projects to new schools. Though muni bonds have long been
considered among the safest investments, few are buying them because of
worries about the
safety of bond insurers that back the bonds.
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AP
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On Tuesday, two muni auctions
failed to find buyers, and experts said that was the first time this had ever
happened. Conditions have only worsened since then, they
explained