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He Should Apologize

April 20, 1986

I have fielded dozens of calls from worried bond owners regarding Republican Sen. Robert Packwood's proposal to subject all tax-exempt interest to the federal alternative minimum tax. For awhile, he succeeded in raising interest rates borne by municipalities. He interrupted a very efficient capital market. Most bondholders are not millionaires. They purchase securities in good faith. They deserve an apology.

Robert Heaney

Sales Manager, Stone & Youngberg

Palos Verdes

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