Muni bonds rarely enter default, SIFMA says:

02/13/2008 | USA Today

Warren Buffett's offer to reinsure municipal bonds may not be as big of a deal as it initially seems, considering the muni market is one of the biggest and safest corners of the bond market. According to SIFMA, there are about $1.7 trillion worth of muni bonds outstanding, and, historically, less than 0.25% of them default. SIFMA's Michael Decker added that with the exception of riskier muni bonds issued for special purposes in partnership with outside companies, the muni default rate is essentially zero.

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