from the Sacramento Bee (11/22)
Lockyer, local officials urge Fed to pump cash into municipal bond markets
By Andrew McIntosh
Published: Saturday, Nov. 22, 2008 | Page 9B
"Treasurer Bill Lockyer joined Sacramento County and 18 other municipal bond issuers Friday to lobby federal lawmakers and the Federal Reserve to shore up battered municipal bond markets.
Lockyer, Sacramento County chief operations officer Nav Gill and 18 other top state and local officials argued that weak demand for variable rate bonds is crippling already tight local and state finances by forcing issuers to pay higher interest rates on bonds and related costs.
The group wants the Federal Reserve to pump cash into short-term bond markets. They said the plea for financial help was not a bid for a bailout or subsidy." ...
for the complete story
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