Editor’s Note
W. Bartley Hildreth

Toward a New Financial Architecture
Laurence H. Wadler

Hedge Effectiveness and Efficiency in the Municipal Market
Patrick J. Cusatis

Financing School Construction:
The Tax Consequences of Stripping
Larry L. Carlile, Anne A. Hered, Thane R. Hodson, and Carol J. Mihalic

The Collapse of Florida Dirt Bonds
Richard Lehmann

Minding the Market:
Summer Strength and End-of-Year Outlook
Matt Fabian and Matt Posner