Thomas A. Dubbs Discussed Yield Burning at a Meeting of the Government Finance Officers Association (GFOA)
February 02, 1999
Mr. Dubbs, then the attorney for named plaintiff Collier County, Florida, discussed yield burning, including addressing issues such as:
- Negative arbitrage in which money is taken because of markup;
- Positive arbitrage where money should have been refunded to the government and now municipalities owe to the government;
- A mixed case of positive and negative arbitrage.