Thomas P. DiNapoli

New York State Comptroller

with Thomas DiNapoli

Press Release

Welcome to and

1.) First reason why you should not buy New York bonds is:

There is no organized Muni Market. This is especially true in the Muni Market secondary. You are expected to buy New York bonds and hold them to maturity. But if you ever want to sell... or have to sell... there is no chance of you getting a fair and reasonable bid. Most brokerages do not provide bids on New York bonds...not even on the New York bonds they just sold you... not even on New York bonds they have acted as underwriter. This same problem will extend down to your heirs if they ever want or need to sell your New York bonds.

In terms of an organized, fair and reasonable secondary market, you are better off buying a new car or even a vacation timeshare than you are a New York bond.

Why this website?     Who I am?     What do I want?

My name is Kevin Olson.

I am an investor advocate and public finance watchdog.

A decade ago I pioneered fixed income price transparency by posting Muni Market trade and price data. Similar to stock prices listed in a newspaper, the open listing of Muni Market trades and prices should not have been a recent development. And it should not have fallen to me to push it into the spotlight.

But even though I worked the data, it was soon clear to me that Muni Market price transparency was not "it." The Muni Markets are still far from fair or even safe. We need a Muni Market exchange. After an equity IPO, corporations list their stocks on an exchange which establish and help maintain an orderly secondary market.

It is possible for the Muni Markets to have something have a Muni Market exchange...a single, centralized and transparent location for all customer bid-wanteds.

So I am out here again working to help the Muni help investors...pushing State Treasurers to actually do something.

And it has not taken long for me to clearly see that your Treasurer, Thomas DiNapoli, is a huge FRAUD.

Q: Who Told You To Say No?

July 14, 2011

Dear Treasurer Thomas DiNapoli,

You claim and take credit as leadership of this Country's State Treasurers. You are also on this State Debt Action thing. In good faith I proposed an idea to improve the Muni Markets, especially the secondary bid-side, to the State Treasurers which in turn you kicked it to your State Debt Action thing. The Muni Market secondary is so bad it is unthinkable for you to say no to anything.

So I have to ask --

Who told you to say no?

Q: What Do You Understand of the Muni Markets?

July 14, 2011

Dear Treasurer Thomas DiNapoli,

For this site, please explain in detail what you know of the U.S. Muni Markets?