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The Next Big Bailout: State and Local Governments

Posted By Barry Ritholtz On April 26, 2009 @ 6:58 am In Bailouts,Video | Comments Disabled

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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