American cities and towns regularly turn to private investors to raise funds for schools and basic infrastructure
and on the private bond market, the rich ones win and the poor inevitably lose
wrote about the long arc of municipal debt for @theatlantic.com:
www.theatlantic.com/books/2025/1...
theatlantic.com
American Suburbs Have a Financial Secret
Municipal bonds have become an unavoidable part of local governance—and their costs divide rich towns from poor ones.
