And she’s till peddling muni-bond gloom and doom. She predicted hundreds of billions of dollars of defaults by states, counties, cities, etc.
Municipal budgets are still stretched and will become more-so as pension liabilities build. But state and cities, like most entities, are cutting budgets and renegotiating benefits packages…
So far, defaults have been minimal.
She got Citi right back in 2008, but the magic may have dried up…