Email letters, April 3, 2013

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Mr. Carley, please explain how you think a default of a tax-free California municipal bond will affect 401(k)s. Tax free muni bonds are not held in 401(k)s. And saying that a default of Stockton bonds will adversely affect current city (Grand Junction?)bond sales is absurd. It is like saying a default of Enron corporate bonds will affect General Electric bonds. You are comparing apples and oranges.



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