Overhaul in Bond Sales Is to Be Urged in Tennessee
The Tennessee comptroller plans on Friday to propose a sweeping overhaul of the way the municipal bond market is regulated in the state.
The comptroller, Justin P. Wilson, said Thursday that his recommended changes would prohibit small cities and counties from using sophisticated derivatives, which have crashed, causing interest payments to increase by as much as 500 percent and putting a strain on local governments.
Read more via Overhaul in Bond Sales Is to Be Urged in Tennessee – NYTimes.com.