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.
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...
* Part of U.S. probe of $3.7 trillion muni bond market * Fraud by ex-UBS employees spanned five years -prosecution * Def...
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...
Defaults on municipal bonds for decades have been far higher than reported by rating agencies, bringing into question the true risk of a common inves...
Thing One: Will Wall Street ...
* Third California city to file for bankruptcy * Follows Stockton and Mammoth Lakes * Fears other cities will file for b...
By Hilary Russ July 25 (Reuters) - The mayor of Pennsylvania's distressed capital city Harrisburg on Wednesday release...
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 ...
* Government owes NNPC for helicopter, maritime security * Borrowing raises doubts over NNPC's future independence * Ear...
By Joan Gralla July 2 (Reuters) - U.S. states and localities have run up more than $2 trillion of unfunded pension lia...
(Repeats analysis story initially published late on Wednesday) * Stockton, California, bankruptcy filing expected by Friday ...
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 national battle about the size of government and the level of taxation will be played out in the streets of small cities across America
March 5 (Reuters) - Alabama's Jefferson County is fully eligible for Chapter 9 bankruptcy protection and can proceed with its $4.23 billion filing, ...
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...
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...
WASHINGTON (Reuters) - General Electric Co acknowledged that three former traders at a finance unit engaged in bid-rigging of municipal bonds and...
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...
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...
Reporters Bob Porterfield and Jackie Ginley are exploring the financial challenges facing Hercules for The Huffington Post and Hercules Patch. Read th...
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...
Reporters Bob Porterfield and Jackie Ginley are exploring the financial challenges facing Hercules for The Huffington Post and Hercules Patch. Read th...
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...
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...
