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Ackman on Muni Insurance

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Paul Kedrosky
Paul Kedrosky
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Two Sets of Ratings Agency Books: Taxpayers Pay For Bond Insurance They Do Not Need February 12, 2008 Pershing Square Capital Management, L.P.
Disclaimer ,[object Object],[object Object],[object Object],[object Object],[object Object]
Municipal Bonds Perform Better Than Corporate Bonds ,[object Object],Source: Moody’s, The U.S. Municipal Bond Rating Scale March, 2007
Municipal Bonds Deserve Higher Ratings ,[object Object],Source: Moody’s, The U.S. Municipal Bond Rating Scale March, 2007
Municipal Bonds Deserve Higher Ratings ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Taxpayers Have Paid for Bond Insurance They Don’t Need ,[object Object],$ billions

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Ackman on Muni Insurance

  • 1. Two Sets of Ratings Agency Books: Taxpayers Pay For Bond Insurance They Do Not Need February 12, 2008 Pershing Square Capital Management, L.P.
  • 2.
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  • 4.
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  • 6.