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Are We On the Road to the Next Financial Crisis?

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In this article published January 13, 2012, Doug Dachille offers his view on the result of last week’s vote by bondholders in favor of amendments to Tennessee Energy Acquisition Corporation Series 2006 Bonds.  The article provides readers with a conclusion to his detailed analysis of the transaction in the article published prior to the vote on January 4, 2012.  Unfortunately for investors, it appears that an overreliance on credit ratings by professional investment managers continues despite the lessons provided by the 2008 financial crisis.

Read full article (pdf)