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Investors stuck in Big Dig bonds

Treasurer letting auction-rate notes remain in limbo

Treasurer Timothy P. Cahill’s staff said the state hasn’t refunded the bonds because it would have to do so at a much higher, fixed interest rate, which would be costly. Treasurer Timothy P. Cahill’s staff said the state hasn’t refunded the bonds because it would have to do so at a much higher, fixed interest rate, which would be costly. (Pat Greenhouse/Globe Staff/File 2009
)
By Beth Healy
Globe Staff / October 14, 2009

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Treasurer Timothy P. Cahill has saved taxpayers $20 million in interest costs by allowing a state bond issue to remain in a market limbo, but the decision has come at the expense of some investors, who are furious they can’t get their money back. (Full article: 1046 words)

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