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Discussion of “Lowering Borrowing Costs for States and Municipalities Through CommonMuni” by Andrew Ang and Richard C. Green:  Commentary by Winthrop Smith

Author:  Winthrop Smith.

Source: Volume 34, Number 03, Fall 2013 , pp.95-99(5)

Municipal Finance Journal

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Although Smith agrees “with much of the diagnosis” and endorses the prescription of Ang and Green, he “recommend[s] that they, and any future managers of CommonMuni, take care to discern the motivations of both issuers and investors, and to recognize the pitfalls of ‘best practice’ advocacy.”

Keywords: CommonMuni, bond issuer motivations, bond investor motivations, market transparency, market liquidity, municipal use of derivatives

Affiliations:  1: Win Analytics LLC.

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