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)
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Abstract:
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.