State treaurer to testify at municipal bond hearing

The Clarion-Ledger, 3/12/8

Mississippi Treasurer Tate Reeves will testify before the U.S. House Financial Service Committee at a hearing this morning, according to a news release from his office.

The hearing is titled “Municipal Bond Turmoil: Impact on Cities, Towns and States” and it will examine how the current stress in the bond insurance industry has contributed to the collapse of the market for auction rate municipal bonds and raised the cost of borrowing for municipal bond issuers.

California Treasurer Bill Lockyer, Pennsylvania Treasurer Robin Wiessmann and California Insurance Commissioner Steve Poizner also will testify at the hearing, according to the release.