Between April 2009 and December 31, 2010, state and local governments borrowed more than $181 billion through the issuance of 2,275 separate issues of Build America Bonds, which were.
With limited support from the federal government, numerous cities would be able to pursue projects that improve their communities without sacrificing their budgets to debt service.
The bond market is not an inherently racist market but, it does not exist in isolation from society at large. As a result, it has acted against the financial interests of municipalities whose residents are predominantly Black.