Subprime Mortgage Crisis
The municipal bond market was affected by the subprime mortgage crisis. During the crisis, monoline insurers that insured municipal bonds incurred heavy losses on the collateralized debt obligations (CDOs) and other structured financial products that they also insured. Consequently, the credit ratings of these monoline insurers were called into question, and the prices of municipal bonds fell.
Read more about this topic: Municipal Bond
Famous quotes containing the words mortgage and/or crisis:
“The mortgage is still in our name but, increasingly, the house is theirs. One diaper, one vote.”
—Fred G. Gosman (20th century)
“... what’s been building since the 1980’s is a new kind of social Darwinism that blames poverty and crime and the crisis of our youth on a breakdown of the family. That’s what will last after this flurry on family values.”
—Stephanie Coontz (b. 1944)