No. of Recommendations: 1
WSJ is reporting today that Jefferson Co., AL, the county that includes Birmingham, is about to default, and is offering a settlement of $0.70 on the dollar to bond holders.

This is the second munibond series to default--at least that has made it into the national news. The other was Harrisburg, PA.

Bondholders must continue to worry. How many more of these are out there destined to arrive in your mail one day?
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