Detroit filed for federal bankruptcy protection after years of decline. Here is the actual official Detroit Bankruptcy filing.
High-grade, tax-free municipal bonds have been trading above 5 percent, a historical buying indicator according to bond advisors. Taxable-equivalent yields on instruments like that are between 8.5 percent and 9…
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.
Detroit and Puerto Rico which have been on the market’s radar screen for quite some time. In early March 2013, Detroit announced a yet-to-be-named state-appointed emergency manager for the City…
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
Ironically in many cities taxes are going up regardless of home prices going rising or falling. The annual operation costs that towns must pay for schools, police, fire and other…
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…