The Stockton, CA. example could encourage cities to view bankruptcy as something other than a last resort. Bond-holders, taxpayers and government officials throughout the country are perplexed and angered will by U.S. Bankruptcy Judge Christopher Klein’s ruling to pursue a plan that stiffs its bond-holders.
The Painful Truth is that as debt increases, so do the risks it will be politically, economically and financially worthwhile for borrowers to walk away from paying back their loans…
Is there an Evolving View of Bankruptcy in the Municipal Market?
The painful truth is that as debt increases, so do the risks it will be politically, economically and financially worthwhile for borrowers to walk away from paying back their loans…
New York, NY (June 26, 2012)
How can investment advisors monitor the 1.5 million cusips from 60,000 different issuers if most bonds ratings are stale or are not rated at all? We need an Bond early…
The Las Vegas Monorail Project is dead but long live its muni bonds which while in default, still trade regularly. They are “junk” muni bonds yielding 15%.
Less than a month before the $43.4 million municipal bond default of Boston based Crosstown Center , some unsuspecting retail buyer purchased $100,000 of the now defaulted bonds. Whats troubling…
Muni bond defaults moved past $4 billion from January thru September 2009 driven partly by the bursting of the real estate bubble which in turn triggered defaults in “Special Assessment”…