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    01.26.12 Professor David Reiss Discusses State and Local Government Debt on American Public Media
    David Reiss

    In an interview for American Public Media's Marketplace, Professor David Reiss spoke about growing fears among state and local governments that budgets will not be able to cover rising pensions and health care costs. In response, insurance regulators are now posing questions to credit agencies to hold off a potential crash, in the event too many local governments default on their debt. Professor Reiss commented, “[The major credit agencies] disappointed [regulators and investors] with Enron and WorldCom, they disappointed with mortgage-backed securities, and I think that people are kind of hyper-sensitive."