Municipal Debt

No-Tax Town Would Rather Die Than Levy

HuffingtonPost.com | Janell Ross | Posted 03.08.2012

Read More: Layoffs, Taxes, Senior Citizens, Senior Community, Unemployment, Budget Cuts, Arizona, Property Taxes, Recession, Public Services, Municipal Debt, Youngtown, Business News

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

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The Great Unraveling: Yonkers, Stockton and Municipal Bankruptcy

Richard Brodsky | Posted 05.07.2012

Read More: Richard Ravitch, Yonkers, Michael Spano, Stockton, Yonkers City Budget, Municipal Debt, Municipal Debt Crisis, Austerity, Business News

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

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County Gets Go-Ahead To Proceed With Huge Bankruptcy

Reuters | Posted 05.05.2012

Read More: Jefferson-County-Bankruptcy, Video, Bankruptcy, Jefferson County, Jefferson County Alabama, Reuters, Sewer Systems, Municipal Bankruptcy, Business News, Municipal Debt, Municipal-Debt-Crisis, Business News

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

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

Reuters | Posted 03.10.2012

Read More: Taxes, Video, Budget Gaps, Federal Government, Standard and Poor's, National Conference of State Legislatures, Reuters, Center on Budget and Policy Priorities, Municipal Defaults, Budget Deficits, Medicaid Healthcare Program, Municipal Debt, Business News

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...

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Meet Detroit's Financial Review Team

Free Press | Posted 12.27.2011

Read More: Detroit Financial Review, Mayor Dave Bing, Detroit Financial Crisis, Detroit Emergency Manager, Rick Snyder, Andy Dillon, Municipal Debt, Detroit Fiscal Crisis, Detroit News

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...

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

Posted 12.23.2011

Read More: Business News, Ge Muni Bond Rigging, General Electric, Ge Bond Rigging, Municipal Bonds, Video, Municipal Debt, Ge, Business News

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

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Council Cuts Christmas Checks

HuffingtonPost.com | Simone Landon | Posted 11.30.2011

Read More: Holidays, Detroit Financial Crisis, Detroit Pension Fund, Detroit General Retirement System, Christmas, Saunteel Jenkins, Afscme Michigan, Detroit City Workers, Detroit City Council, 13th Check Detroit, 13th Check, Municipal Debt, Pension Funds, Detroit News

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...

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Mayor Dave Bing: 1,000 Job Cuts Amid Detroit Budget Crisis

AP | JEFF KAROUB | Posted 01.18.2012

Read More: Detroit Finances, Layoffs, City Workers, Detroit Financial Crisis, Detroit Budget, Dave Bing, Detroit Budget Deficit, Municipal Debt, Detroit Mayor Dave Bing, Detroit News

DETROIT — Detroit plans to cut 1,000 jobs by early next year to help deal with the city's budget crisis and avoid the possibility of a state-app...

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How A City's Affordable Housing Loans Became A $10 Million Mess

HuffingtonPost.com | Jackie Ginley | Posted 11.18.2011

Read More: California Budget Problems, Municipal Bonds, California Municipal Bonds, Hercules Affordable Housing, Low-Income Housing, Hercules California, California Budget Crisis, Municipal Debt, Affordable Housing, Bay Area, San Francisco News

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

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Occupy Detroit Joins #N17 Day Of Action

The Huffington Post | Posted 11.18.2011

Read More: Detroit Financial Crisis, Municipal Workers, #N17, Occupy Wall Street, Occupy Detroit, Occupy Detroit Protest, November 17, Austerity Measures, Municipal Debt, Austerity, Detroit News

Occupy Detroit protesters on Thursday were set to join nationwide protests on the two-month anniversary of the Occupy Wall Street movement's initial e...

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City's Affordable Housing Initiative Spent Nearly $50 Million, Produced Nothing

HuffingtonPost.com | Jackie Ginley | Posted 11.17.2011

Read More: Municipal Bonds, California Public Utilities Commision, California Municipal Bonds, Hercules Affordable Housing, Utilities, Bay Area, Affordable Housing, California Budget Problems, Low-Income Housing, Hercules California, California Budget Crisis, Municipal Debt, San Francisco News

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

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

Posted 01.11.2012

Read More: Jefferson-County-Bankruptcy, Video, Municipal Bonds, Jefferson County, Jefferson County Alabama, Business News, Municipal Bankruptcy, Sewer Systems, Municipal Debt, Municipalities, Business News

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...

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Michigan Town Tearing Out Its Streetlights In Cost-Cutting Measure

The Huffington Post | Alexander Eichler | Posted 01.07.2012

The economic slowdown has put countless people out of work and eliminated millions of dollars in homeowner wealth. States and cities haven't been immu...

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Harrisburg Council Approves Bankruptcy Filing

AP | MARK SCOLFORO | Posted 12.12.2011

Read More: Municipal Bankruptcy, Business News, Harrisburg, Chapter 9 Bankruptcy, Harrisburg Pa Bankruptcy, Municipal Debt, Municipalities, Video, Business News

HARRISBURG, Pa. — Pennsylvania's distressed capital city filed for bankruptcy Wednesday, citing "imminent jeopardy" from lawsuits related to a d...

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State Credit Ratings Across The Nation [MAP]

The Huffington Post | Harry Bradford | Posted 10.16.2011

Read More: U.S. Debt Crisis, Moodys, State Credit Ratings, Stateline, Standard and Poor's, Credit Rating Agencies, Tax Foundation, Fitch, AAA Rating, U.S. Credit Downgrade, Municipal Debt, Business News

Other credit ratings agencies may have reaffirmed their faith in the United States' credit worthiness but the fallout from Standard and Poor's downgra...

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Hercules Municipal Utility Has Drained City Coffers

HuffingtonPost.com | Jackie Ginley | Posted 10.16.2011

Read More: Hercules Municipal Utility, California Budget Problems, California Public Utilities Commision, Municipal Bonds, California Municipal Bonds, Utility Costs, Utilities, Hercules California, California Budget Crisis, Municipal Utilities, Municipal Debt, Bay Area, San Francisco News

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

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Spain's Local, Regional Governments Running Out Of Money

AP | By ALAN CLENDENNING | Posted 10.14.2011

Read More: European Debt Crisis, Spain Bailout, Spanish Debt Crisis, Spain, Spain Debt Crisis, Europe, Municipal Debt, Spanish Debt, Municipalities, Business News

MORATALLA, Spain -- In this hillside town, topped by a medieval castle and surrounded by olive groves, the 120 municipal workers haven't been paid sin...

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As S&P Considers Downgrades, State And Local Governments Brace For Prospect Of Higher Costs

HuffingtonPost.com | William Alden | Posted 10.09.2011

Read More: Economic Crisis, Business News, Credit Rating Agencies, Financial Crisis, Standard & Poor's, Downgrade, U.S. Credit Downgrade, Cities, Recession, Municipal Debt, Business News

NEW YORK -- American state and city governments already struggling to balance their books now must brace for the prospect of increased borrowing costs...

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Smallest City In Smallest State Files For Bankruptcy

Posted 10.01.2011

Read More: Harrisburg, Bankruptcy, Wall Street, Governor Lincoln Chafee, Chapter 9, "The Big Ask", Economic Recession. Great Recession, Breckinridge Capital Advisors, Rhode Island, Central Falls, Municipal Debt, Business News

(Edith Honan) - Central Falls, Rhode Island, one of a handful of U.S. cities and counties facing fiscal collapse in the wake of the economic reces...

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Emanuel: 'The Moment Of Truth Has Arrived' On Huge Budget Deficit

Posted 09.28.2011

Read More: Rahm Emanuel Budget, Rahm Emanuel, Chicago Budget, Chicago, Chicago Budget Deficit, Illinois, Municipal Debt, Chicago Budget Crisis, Chicago News

The office of Mayor Rahm Emanuel has released its official projections for next year's budget, and it doesn't look good. The city will face an esti...

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Third World America: Drowning in Debt and Choking on Lies

Janet Tavakoli | Posted 08.24.2011

Read More: Tarp, Bank Bailouts, Municipal Debt, Debt, Tax Breaks, Corruption, Unemployment, Violence, Politics News

America's biggest problem by far is that capital spending in new production facilities that create jobs and real products never occurred, not even after trillions of dollars were thrown at banks in the global financial system.

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'Staggering': Cook County Households' Share Of Local Debt

Posted 08.22.2011

Read More: Maria Pappas, Cook County Debt, Chicago Debt, Cook County Treasurer, Chicago, Illinois, Cook County, Municipal Debt, Chicago News

Cook County Treasurer Maria Pappas was astonished by the amount of local government debt that Chicago-area households hold, according to a report rele...

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Standard & Poor's: California Credit Rating At 'Crossroad'

Posted 08.21.2011

Read More: Dianne Feinstein, California State Legislature, Barbara Boxer, California, Arnold Schwarzenegger, California State Budget, Municipal Debt, Jerry Brown, Business News

SAN FRANCISCO - California's credit rating is at a "crossroad," Standard & Poor's Ratings Services said on Tuesday, noting concerns about the stat...

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Harrisburg's 'Bad Deal': City Forced To Pursue Parking Privatization

HuffingtonPost.com | William Alden | Posted 08.15.2011

Read More: America for Sale, Harrisburg, Pennsylvania, Economic Crisis, Chicago, Privatization, Business News, Chicago Parking Meters, Financial Crisis, Municipal Debt, Municipal-Debt-Crisis, Parking Garage, Business News

NEW YORK -- The finances of Harrisburg, Pa., are so desperate that local officials are considering a deal they fear will ultimately make the city more...

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Meredith Whitney: 'More Validation' Everyday Of Impending Muni Debt Crisis

James Sunshine | Posted 08.08.2011

Read More: Meredith Whitney, 2008 Financial Crisis, Chris Christie, Municipal Debt, Debt Default, Meredith-Whitney-Advisory-Group, Citigroup, Video, Business News

She was right about Citigroup's fall from grace, and she's pretty sure about the municipal debt crisis, too. Last December, on CBS's 60 Minutes, M...

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