Local Governments' Fiduciary Duties to Bondholders
Local governments may only be accountable to their citizens, but they also have
fiduciary duties to those who invest in their
bonds.<br>
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Many local governments don't act like they do, however." In <a href="http://www.nytimes.com/2008/08/31/business/31gret.html" target="”_blank”">Gretchen
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