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The Next Big Bailout: State and Local Governments

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By Barry Ritholtz - April 26th, 2009, 6:58AM

With state and local governments suffering from a steep decline in tax revenues, there’s “another S&L crisis” coming, says Diane Garnick, investment strategist at Invesco.
And since every crisis deserves its own bailout, get ready for the Federal Government to step in an prop up state and local municipalities, says Garnick, whose firm has about $350 billion of assets under management.

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Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

3 Responses to “The Next Big Bailout: State and Local Governments”

  1. Just An Australian Says:
    April 26th, 2009 at 7:40 am

    I hear that hospitals are not doing to well. Can’t not bail them out….

  2. holulu Says:
    April 26th, 2009 at 11:40 am

    How much money are we talking about ?
    $300-400 Billion !

  3. msmiss48 Says:
    May 3rd, 2009 at 8:50 am

    Diane Garnick cracks me up. Did you see the decoder for what management says versus what they mean? It’s spot on. http://www.facebook.com/pages/Diane-Garnick-Fan-Site/30099979536

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