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)
“One theme links together these new proposals for family policythe idea that the family is exceedingly durable. Changes in structure and function and individual roles are not to be confused with the collapse of the family. Families remain more important in the lives of children than other institutions. Family ties are stronger and more vital than many of us imagine in the perennial atmosphere of crisis surrounding the subject.”
—Joseph Featherstone (20th century)