Quote:
Originally Posted by Challenger
I have seen nothing on this thread that indicates anyone posting here has an understanding of this process. The opinions being expressed appear mostly to be by people who have never been involved in issuing bonds of any kind nor in legislation or litigation relating to bond issues
Most often legal advise is worth about what you pay for it.
My guess is that the process has many years to run before it is settled. My previous experience is that the Bond Underwriters and the Attorneys on whose opinion the Underwriters and buyers relied have more immediate issues to deal with ( ditto their malpractice insurers)
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While we are guessing my guess is the IRS has one target the CDD that shorted them tax money because they sold tax free bonds. My guess is the IRS does not give a rip about the Bond Underwriters or Attorneys or Uncle Bob’s Rock Shop for that mater.
I figure when the IRS says you Os me and you say I don’t have the money, the IRS says give me all your assets and we will sell them. Oh and after we get done with you if you want to have a word with your Bond Underwriters or Attorneys or Uncle Bob’s Rock Shop, enjoy. Now that I think of it, that’s what happened to Willie Nelson.
That’s just my personal opinion.