Welcome to Current Yield, Grant's interest rate observer of the air.

I am Jim Grant, welcoming you.

And on hand, as always, we have Eric Whitehead at the control panel,

looking especially technical, I would say today,

and rather self-assertive necktie, as you can see for yourselves. And the great deputy editor

of grants, Evan Lorenz, is here, as is Fabiano Santine, who is the vice president in charge of

crummy credit here, right, Phelma? Right. I mean, speculative grade and not crummy so much,

is highly leveraged, and also you are versatile enough to do

lowly leveraged and some tax-exempt securities, which brings us to today's theme. With us is a guest,

as we must say, a special guest. It's like Ed McMahon, have you noticed when any commentator

talks about citizenry? And Bob McManus is fabulous, right? And he uses rights for the

post. And even Bob McManus can't write about the voting public, the general public, without saying

hardworking. He said that yesterday, the hardworking New Yorkers. How about the guys to go to work

at like 9-10 and leave at 4.30 and taking'm taking a long lunch, and just don't give a darn about

their jobs. What about those guys, isn't I? I don't think I've ever used the phrase hardworking.

Yeah, excellent. Yeah. Well, Ed McMahon, who you might know by as byline E.J. McMahon is one of

the great authorities on all things New York. He is a veteran of the Albany newspaper scene

and of the Albany politics.

And he is fabulous, knowledgeable.

He helped us a great deal, did Ed McMahon

and the story that we wrote for grants

on New York State and its credit.

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