Investors generally view municipal bonds as safe investmentsâ??and the figures seem to back that up. Moodyâ??s Investors Service (MCO) tracked just 71 muni bond defaults from 1970 to 2011. A new analysis from the Federal Reserve Bank of New York says thereâ??s an â??untoldâ? story of muni bondsâ??that they actually go bad much more than we thought. . .
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