Wednesday, March 25, 2015

The Full Grift

Make everybody pay.
(Bloomberg) -- Charter schools are selling a record amount of municipal debt. For investors, the challenge is that defaults by the publicly funded, privately run institutions have also never been higher.


While charter schools are gaining popularity across the U.S. as an alternative to local systems, their default rate reached an all-time high last year of 5 percent of outstanding issues, according to a biannual study by the New York-based Local Initiatives Support Corp. That’s up from 3.8 percent in 2012.