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Municipal Debt

Puerto Rico's Blackout and National Resilience

Dante Disparte | Posted 09.28.2016 | Business
Dante Disparte

While electricity will eventually return to Puerto Rico following a massive island-wide blackout that left 1.5 million residents in darkness, it may take decades to return the island to a solid footing.

Governor Hickenlooper: Fix the Hole in Colorado Municipal Courts

Nathan Woodliff-Stanley | Posted 05.07.2017 | Denver
Nathan Woodliff-Stanley

In Colorado municipal courts, justice is often hard to come by if you're poor. ACLU of Colorado client Shawn Hardman found that out the hard way when...

10 Ways to Save Puerto Rico's Economy

Dante Disparte | Posted 01.26.2017 | World
Dante Disparte

With nearly 10 per cent of the island's inhabitants foregoing the tropical paradise over the last decade, it begs the question of what policy measures can be implemented to reverse this trend and put Puerto Rico on a path toward a brighter future.

Puerto Rico and Otherness

Dante Disparte | Posted 06.29.2016 | Business
Dante Disparte

As the recent global financial crisis taught us, privatizing gains while socializing losses is a dangerous economic policy and financial contagion cannot be easily quantified or reversed.

New York City Should Be Cautious About Increasing Its Debt

Carol Kellermann | Posted 06.17.2016 | New York
Carol Kellermann

New York City has more outstanding debt than ever before, and Mayor Bill de Blasio has proposed a 10-year capital plan that will increase it substantially. Now is the time to consider how much debt is appropriate.

Detroit Must Grow Up and Liquidate Assets

Steve Siebold | Posted 10.08.2013 | Politics
Steve Siebold

The message we're sending other cities as well as our own citizens is it's OK to mismanage all of your money because the government will come riding in on the white horse to save you.

Save Detroit the New York Way

Rep. Hansen Clarke | Posted 02.20.2013 | Detroit
Rep. Hansen Clarke

Detroit is known as the nation's manufacturing capital for good reason: it still has the facilities, the firms, the research institutions, the workforce, and -- of course -- the grit to justify the title. The right kind of assistance could get Motor City rolling again.

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...

Will Wall Street Heart Paul Ryan?

The Huffington Post | Jillian Berman | Posted 08.14.2012 | Business

Thing One: Will Wall Street By choosing Paul Ryan as his running mate, it appears Mitt Romney picked someone with just as much in common with your av...

Third California City Files For Bankruptcy

Reuters | Posted 10.01.2012 | Business

* Third California city to file for bankruptcy * Follows Stockton and Mammoth Lakes * Fears other cities will file for b...

Mayor On City's Financial Collapse: 'The Chickens Came Home To Roost'

Reuters | Posted 09.24.2012 | Business

By Hilary Russ July 25 (Reuters) - The mayor of Pennsylvania's distressed capital city Harrisburg on Wednesday released a long-delayed...

'This Could Get Ugly In A Hurry'

The Huffington Post | Mark Gongloff | Posted 07.11.2012 | Business

The news on Wednesday that cities and states are suing some of the world's largest banks over Libor manipulation shows how this scandal could blow up ...

Third California City To File For Bankruptcy

Reuters | Posted 09.09.2012 | Business

* Government owes NNPC for helicopter, maritime security * Borrowing raises doubts over NNPC's future independence * Ear...

Local Governments' Financial Woes Putting Retirees' Benefits At Risk

Reuters | Posted 09.01.2012 | Business

By Joan Gralla July 2 (Reuters) - U.S. states and localities have run up more than $2 trillion of unfunded pension liabilities, Moody'...

Weak Local Governments May Want To Think Twice Before Filing For Bankruptcy

Reuters | Posted 08.28.2012 | Business

(Repeats analysis story initially published late on Wednesday) * Stockton, California, bankruptcy filing expected by Friday ...

Janell Ross

No-Tax Town Would Rather Die Than Levy | Janell Ross | Posted 03.08.2012 | Business

In Youngtown, Ariz., city officials are contemplating the legal equivalent of shutting down. The city of about 6,500 people 30 minutes northwest o...

The Great Unraveling: Yonkers, Stockton and Municipal Bankruptcy

Richard Brodsky | Posted 05.07.2012 | Business
Richard Brodsky

The great national battle about the size of government and the level of taxation will be played out in the streets of small cities across America

County Gets Go-Ahead To Proceed With Huge Bankruptcy

Reuters | Posted 05.05.2012 | Business

March 5 (Reuters) - Alabama's Jefferson County is fully eligible for Chapter 9 bankruptcy protection and can proceed with its $4.23 billion filing, ...

In Over Half Of U.S. States, Spending To Exceed Revenues

Reuters | Posted 03.10.2012 | Business

By Lisa Lambert Jan 9 (Reuters) - More than half the U.S. states will not have enough revenues to cover spending demands in the fiscal...

Meet Detroit's Financial Review Team

Free Press | Posted 12.27.2011 | Detroit

Gov. Rick Snyder on Tuesday announced the 10 members of Detroit's financial review team who will meet under Michigan's emergency manager law. The team...

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...

Simone Landon

Council Cuts Christmas Checks | Simone Landon | Posted 11.30.2011 | Detroit

City retirees won't be receiving extra cash from the city pension plan this holiday season after Detroit City Council voted Tuesday to prevent the cit...