Originally Posted by au4all
The article is horrendously ignorant. It says: By conspiring to lower the interest rates that towns earn on these investment
Towns don't invest in municipal bonds, they issue them. Lowering interest rates that they PAY is good news.
Since the article is obviously wrong, it seems like its purpose is to generate some emotional reaction in its readers. Obviously they succeeded.
They (banks, financial institutions etc.) bid on the Interest rate that THEY (the banks) will PAY on the money to the city, town, etc. borrowing it while going from sitting there doing nothing, to being payed out for contracted work (construction).