“Pensions Resist Rules That Would Magnify Liability,” by James Nash, Bloomberg.
Bond investors would benefit, said Craig Brothers, managing director of Bel Air Investment Advisors LLC in Los Angeles.
“We find it very difficult to get to the bottom of the liabilities on municipal credits,” said Brothers, whose firm oversees a $3.1 billion bond portfolio, about 75 percent of it in municipals. “We as investors would welcome anything that makes it more transparent.”
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