Ackman on Muni Insurance

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Paul Kedrosky

Wirtschaft & Finanzen Business

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

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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

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Taxpayers Have Paid for Bond Insurance They Don’t Need ,[object Object],$ billions

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