Here’s What ‘Billions’ Gets Wrong About the Municipal Bond Market
Not quite how it works.
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People believe what they see on television. They even take social cues from both reality and entertainment programs. I remember a guy who thought it was acceptable to drop in unannounced pretty much because he saw Kramer, Elaine and George do it so many times on Seinfeld.
Watchers of the Showtime hit Billions can be excused, then, if they think that creditors can squeeze broke or defaulting municipalities by seizing buildings, pension funds, police cars or artworks.