Category: News

Lobbying Groups Try To Protect Tax Free Muni Bonds

Twenty five municipal market groups representing local governments are lobbying Senate Finance Committee leaders to maintain the federal tax-exemption for municipal bonds, ensure states maintain their authority to maintain their…

Jefferson County Finally Declares Bankruptcy

Jefferson County, Alabama commissioners voted by 4-1 to file bankruptcy. It will be the largest Chapter 9 bankruptcy in the United States and affects over $3 billion in municipal bonds….

Jefferson County, Take The Money And Run

Legislators in Alabama’s Jefferson County on Wednesday voted 4 to 1 to file for bankruptcy court protection and thereby put in motion what could be the biggest municipal bankruptcy in…

Harrisburg, The Saga Continues

Reports from Bloomberg were that Pennsylvania Governor Tom Corbett and the Harrisburg City Council are in a standoff resulting from Harrisburg’s filing of Chapter 9 bankruptcy last week. The governor…

Harrisburg Burns

We have written about Harrisburg PA.s struggle extensively during the past two years. A small city unable to pay off a jumbo-sized debt hasn’t shaken the muni market. Despite eye-catching…

Obama’s Jobs Bill Will Punish Muni bonds.

Obama’s Jobs Bill Will Punish Muni bonds. Municipal bonds have always been synonymous with tax-free income. That would end if President Obama gets his way. The Obama Administration wants to…

MSRB Steps Up Its Game To Warn “Play Fair or Else”

The MSRB took a defensive posture in the wake of the S&P’s downgrade on the USA by warning dealers that despite the potential market disruption, investor protection rules continue to…

New SEC Rules Makes It Harder For Muni Bond Issuers To Hide Bad News

On Dec 2010, the Securities Exchange Commission put into effect Rule 15c2-12 which prohibits dealers from underwriting most muni bond deals unless the issuers have contractually agreed to disclose annual…

Obituary: Las Vegas Monorail Project

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%.

Muni Default Risk To Get Worse Before It Gets Better

Take a look at this WSJ video with Bob DiMella, manager of the Mainstay Tax Free Fund. In summary he says: