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Minibonds: Putting the Public Back in Public Finance

09.20.16

BY SARAH TESAR AND PITICHOKE CHULAPAMORNSRI The people of San Francisco, hoping to transform their city into a bustling economic metropolis, built the Golden Gate Bridge to connect two previously divided urban areas. During the peak of the Great Depression, the city issued forty-year municipal bonds that paid 5% interest in order to finance the […]

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