Eugene David
...The One-Minute Pundit

Thursday, November 05, 2009


Allstate's CEO offers a ringing endorsement of the health of state and local governments:

“We’ve just recently begun to reduce our exposure to municipals because we are uncomfortable with some of the fiscal practices of some of the government entities,” Wilson said yesterday in an interview after the Northbrook, Illinois-based company reported a third-quarter profit. “If you look at their balance sheets or income statements and put it in financial terms, they are not in great shape.”

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