Do I hear... anyone here? Tax-exempt healthcare facilities have taken a hit on auction-rate securities as the mortgage meltdown has investors skittish.
The crisis in auction-rate securities is coming down hard on tax-exempt providers. Buyers are disappearing, sending interest rates soaring. Some hospitals and other healthcare borrowers are being forced to pay maximum interest. "Basically, the investor pool has all but vanished," says Melissa Williams, left, of Christus Health.
Evans
Melanie
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D006268:Health Facilities / Q000191:economics* / Q000331:legislation & jurisprudence; D006798:Housing / Q000191:economics*; D007449:Investments / Q000191:economics / Q000639:trends*; D019464:Tax Exemption; D014481:United States