Thomas A. Dubbs Discussed Yield Burning at a Meeting of the Government Finance Officers Association (GFOA)

Washington, DC
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.