Mike Nicholas, the CEO of Bond Dealers of America and an organizer of the Municipal Bonds for America coalition, notes that the Obama administration and Congress are desperate to find more revenue as the country faces the dire ramifications of reaching its debt limit and not being able to pay its bills.
Hoffman, deputy director of research at Friedman, Billings, Ramsey, notes that the company has a superb sales force that, with one approach, first aims for a municipal account and then goes after more lucrative commercial business within a town.