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Paul,

I find it odd that people will spend hours, days, weeks digging up company specific information before they make an investment in them but don't seem to think the same DD is required for a muni. I do believe that every muni has a political component, most often that component is benign. Just because most are benign doesn't mean we shouldn't do a little leg work and double check. As you noted States are a whole lot easier to perform DD on.

jack
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