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Municipal Bonds

Bankers' Rigging Cost Desperate Cities, States BILLIONS

The Huffington Post | Mark Gongloff | Posted 10.09.2012 | Business

If you think Libor fraud is a victimless crime, the muni-bond market has 6 billion reasons it begs to differ. States, cities and other municipal bo...

Bankers Guilty Of Scamming U.S. Cities

Reuters | Posted 10.31.2012 | Business

* Part of U.S. probe of $3.7 trillion muni bond market * Fraud by ex-UBS employees spanned five years -prosecution * Def...

Report: S&P, Moody's Inaccurately Reporting Critical Stat

The Huffington Post | Bonnie Kavoussi | Posted 08.17.2012 | Business

After bank analyst Meredith Whitney prophesied a wave of defaults by U.S. cities two years ago, many investors mocked her when her prediction failed t...

Report: Rating Agency Drastically Underreporting Muni Defaults

The Washington Post | Danielle Douglas | Posted 08.16.2012 | Business

Defaults on municipal bonds for decades have been far higher than reported by rating agencies, bringing into question the true risk of a common invest...

Scranton Cuts A Deal To Pay Cops And Firefighters For Doing Their Jobs

The Huffington Post | Alexander Eichler | Posted 07.31.2012 | Business

Good news, Scranton firefighters: You will once again be making more than the fry cook at your local McDonald's. The city of Scranton, Pennsylvania...

Ex-Bank Of America Exec Indicted Over Muni Bid-Rigging Scheme

The Huffington Post | Alexander Eichler | Posted 07.23.2012 | Business

Hard times at BofA right now. But then, it's kind of always hard times for BofA, isn't it? The latest dust-up for Brian Moynihan's problem child invol...

The Scam Wall Street Learned From The Mafia

Rolling Stone | Posted 06.21.2012 | Business

Someday, it will go down in history as the first trial of the modern American mafia....

Detroit Consent Agreement Challenge Dismissed After Mayor Bing Takes Top Attorney To Court

Reuters | Posted 08.13.2012 | Detroit

MASON, Michigan, June 13 (Reuters) - A Michigan judge on Wednesday dismissed a lawsuit challenging the legality of Detroit's financial stability agr...

Millionaires Can Rest Easy, Buffett Rule Still Has Loopholes To Exploit

The Huffington Post | Khadeeja Safdar | Posted 04.16.2012 | Business

President Obama's so-called Buffett Rule is supposed to make certain that top-earning Americans don't pay taxes at lower rates than their assistants. ...

$3.7 Trillion Municipal Securities Market's Last U.S. Inspection 'Predated The Financial Crisis,' GAO Says

Posted 01.18.2012 | Business

Government oversight of the $3.7 trillion market for municipal securities, wracked by several high-profile cases of fraud and bid-rigging, is inadequa...

GE Admits Former Traders Rigged Bids, Agrees To Pay Millions To Stop Probes

Posted 12.23.2011 | Business

WASHINGTON (Reuters) - General Electric Co acknowledged that three former traders at a finance unit engaged in bid-rigging of municipal bonds and agr...

Jackie Ginley

How A City's Affordable Housing Loans Became A $10 Million Mess | Jackie Ginley | Posted 11.18.2011 | San Francisco

Reporters Bob Porterfield and Jackie Ginley are exploring the financial challenges facing Hercules for The Huffington Post and Hercules Patch. Read th...

Jackie Ginley

City's Affordable Housing Initiative Spent Nearly $50 Million, Produced Nothing | Jackie Ginley | Posted 11.17.2011 | San Francisco

Reporters Bob Porterfield and Jackie Ginley are exploring the financial challenges facing Hercules for The Huffington Post and Hercules Patch. Read th...

From Local Officials To Wall Street Blame For County Bankruptcy Casts Wide Net

Posted 01.11.2012 | Business

From corrupt and incompetent local officials to Wall Street's credit crisis and toxic bonds, there was plenty of blame to go around on Thursday, a day...

Jackie Ginley

Hercules Municipal Utility Has Drained City Coffers | Jackie Ginley | Posted 10.16.2011 | San Francisco

Reporters Bob Porterfield and Jackie Ginley are exploring the financial challenges facing Hercules for The Huffington Post and Hercules Patch. HERC...

Insurers Can Manage U.S. Municipal Bonds, Moody's Says

Posted 09.07.2011 | Business

Stresses in the U.S. public sector have not put property and casualty insurance companies at great risk, despite the firms' considerable exposure to m...

Meredith Whitney Doubles Down on Wrong

Charles Gasparino | Posted 08.08.2011 | Business
Charles Gasparino

Meredith Whitney is quickly becoming known more for what she's gotten wrong than for what she's gotten right. Her latest claims about municipal bond defaults will only extend this trend.

William Alden

'NO MORE DEBT': Municipal Bond Issuance Down By Half This Year | William Alden | Posted 08.03.2011 | Business

NEW YORK -- As cities and states struggle with historic budget shortfalls, governments have put one item squarely in the cross-hairs: their debt. R...

William Alden

States Look To Mom And Pop Investors For Funds | William Alden | Posted 07.18.2011 | Business

As California works to repair its budget, the state treasury is ramping up its effort to reach an unusual type of bond investor: regular people. A ...

Sam Stein

DGA Chair Martin O'Malley: GOP Risking National Default To Deny Obama Second Term | Sam Stein | Posted 07.11.2011 | Politics

WASHINGTON -- With states and cities already suffering the consequences of the nation creeping toward hitting the legal debt limit, one Democratic gov...

Whitney Defends Bond Default Prediction As Market Improves

The Huffington Post | William Alden | Posted 07.05.2011 | Business

Even as the municipal bond market shows signs of recovery, analyst Meredith Whitney stood by her controversial prediction of widespread defaults. S...

William Alden

As Treasury Prevents Default, 'Headache' For Cities, States Begins | William Alden | Posted 07.04.2011 | Business

NEW YORK -- As the federal government approaches its legal debt ceiling and scrambles to avoid default, the first losers will be cities and states. ...

Why Bankers Want a Muni Bond Taxpayer Bailout

Chriss Street | Posted 06.03.2011 | Business
Chriss Street

I believe Jamie Dimon's new-found honesty about the risks of municipal bond defaults is part of a strategy to convince Congress to once again saddle taxpayers with a bailout of state and local government.

The Right Picks Up Meredith Whitney's Frayed Banner

Charles Gasparino | Posted 05.28.2011 | Business
Charles Gasparino

The American right is now using Meredith Whitney's increasingly absurd claims of imminent municipal Armageddon to further its agenda of quashing the power of government unions.

Is Meredith Whitney Flip-Flopping or Stalling?

Charles Gasparino | Posted 05.25.2011 | Business
Charles Gasparino

In nine months, when defaults are less than half of what Meredith Whitney suggested, she will be taking credit for sounding the alarm bells, and forcing public officials to make the hard choices and avoid default.