The last time a state defaulted on its bonds, it took eight years and the federal government's help to come up with a remedy.
Read More »Build America bonds may push cities to bankruptcy
The bonds designed by the U.S. government to help municipalities recover from the worst recession since the Great Depression may cost them millions of dollars in unforeseen borrowing costs instead of saving them money. Build America Bonds were part of ...
Tagged with: American Recovery and Reinvestment Act Build America Bonds
Read More »Watch, don’t panic about muni-bond market trouble
= Look to municipal bonds for the next big disaster. That’s the advice of Richard Bookstaber, a senior policy adviser at the Securities and Exchange Commission. Writing on his blog, Bookstaber said the next big crisis looked a lot like ...
Read More »‘Bond heaven’ defies the disasters in munigeddon
Buy me while you still can. That’s what the municipal bond market is telling investors. It’s also telling them not to fret about state and local economies, beset as they are by budget deficits, pension shortfalls and rising health-care costs. ...
Read More »Nobody gets fired except governors in recessions
Any expectation that state and local governments would use the worst fiscal crisis since the Great Depression to reduce their biggest expenditures is proving to be wishful thinking. Companies have cut 7.3 million jobs, 6.29 percent, since business employment peaked ...
Tagged with: economy layoffs recession state budgets
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