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Exciting Municipal Underwriting

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June 06, 2008 – Comments (5)

Looks like the financial industry is finally wising up and thinking ahead.  This story says that UBS is exiting underwriting municipal debt, although it will continue to sell the risk to others...  I think municipal bonds are going to be challenging investments for people.

 

On a sign of times note I think I'm looking to upgrade my vehicle.  The roads have been insane here and it really makes me consider valid reasons for vehicles I had never considered before.  I just went a little ways on the local road last night that it is full of soft spots.  So, my hubby mentioned co-workers are getting rid of their second vehicle to save money and they are going to a single vehicle family.  I was part of a single vehicle family for 12 years.  I suspect there will be a lot more families sharing vehicles more.

Here's a picture of our local roads in the area I was stuck in the mud about 3 weeks ago now.

Photobucket

5 Comments – Post Your Own

#1) On June 06, 2008 at 10:23 AM, anchak (99.85) wrote:

I agree with the Munies....I think it was in one of your posts ....way back in Nov , I noted my extreme discomifiture with status of munies - they are not traditionally well run in a management sense - and have taken the easy money on the permit fees and taxes to their head.

Underwriting this kind of paper now is almost a coin toss.

Good luck on your vehicle hunt - looks like you need something really sturdy and big traction to navigate this kind of stuff - those dont come in hybrids, do they?

 

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#2) On June 06, 2008 at 10:34 AM, LordZ wrote:

That doesnt look like a road ???

looks more like a muddy bog.

Maybe a horse and carriage would be more appropriate.

 

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#3) On June 06, 2008 at 1:47 PM, madcowmonkey (< 20) wrote:

Horses are typically more expensive than cars to maintain and feed, of course I did hear of a girl riding her horse to her High School the other day. She said it was getting rough filling up her pick up truck with gas. The school provided water and hay for the horse. 

Cost of Owning a Horse

Of course these are just estimates and you could probably do away with the bedding, insurance, lessons, training, etc. 

On the blog, I hear the bigger rigs are getting cheaper and small cars are getting more expensive.

Maybe I could make a gain on my 4 door sedan:) 

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#4) On June 06, 2008 at 1:58 PM, GS751 (27.51) wrote:

A guy that I talk too is kind of Muni's he invented the Lehman Muni bond index (the S&P 500 of Muni's) and he says UBS is gonna be hard to sell and the muni business is gonna change.

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#5) On June 06, 2008 at 2:28 PM, dwot (60.26) wrote:

Certainly the road conditions now make me understand why everyone here wants a high vehcile and one with 4 wheel drive.

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