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Detroit breakdown: Default or bankruptcy a clear option for the Motor City
Detroit breakdown: Default or bankruptcy a clear option for the Motor City.
The many perils of munis
The muni bond market can be fertile investment ground but advisers need to watch where they invest. Why? Exhibit A: The SEC's suit against Harrisburg, Pa.
SEC: Harrisburg misled investors
The Securities and Exchange Commission has accused the city of Harrisburg, Pa., of making misleading statements to municipal bond investors as its financial condition deteriorated in 2009.
Harrisburg misled muni bond investors, SEC charges
The SEC accused Harrisburg, Penn., of misleading muni investors, leaving bondholders in the dark. It's the first time the agency has charged a municipality for statements made outside securities disclosures.
Whitney still sticks in muni bonds' craw
The municipal bond market continues to view outspoken analyst Meredith Whitney as an unwelcome guest at a private party.
Whitney warns about 'negative feedback loop from hell' in muni market
Analyst Meredith Whitney is sounding yet another alarm about tax-exempt bonds (see above). Jeff Benjamin offers details.
SEC's Gallagher: No apologies for muni 'Armageddon' comment
SEC member Daniel Gallagher raised hackles last week by warning about a possible muni bond 'Armageddon.' He's not backing down.
Muni exemption could hurt taxpayers
For all of the consternation around the "fiscal cliff" and the sequestration, the path remains unclear for an agreeable way to address the federal budget deficit with additional revenue, further spending cuts, or both. And part of this uncertainty extends to the proposals to cap the tax exemption
Take Five: Muni mavin Ronald Bernardi on the tremors from Stockton
Trader says bankrupcty will likely shake up tax-exempt landscape in California
Stockton 'cram-down' would severely test muni market
The events in Stockton could take a major toll on the muni market. Jeff Benjamin reports.
Puerto Rico's muni-bond risk bears watching, BlackRock managers say
Puerto Rico's munis represent the 'fattest tail risk' in the market, managers at BlackRock warn. The worry? If investors smell default, a run on the tax-free bonds could break out.
Stockton bankruptcy sends chilly message to muni bondholders
If municipal bond investors aren't already stressed out over the latest developments in the Stockton, Calif. bankruptcy dealing, they should be. The city of nearly 300,000 was granted Chapter 9 bankruptcy protection on Monday after a federal judge berated creditors for not wanting to compromise
SEC says Illinois misled investors over pension funding
The Securities and Exchange Commission slapped Illinois with securities fraud charges last week, claiming that the state misled municipal bond investors about how it funded its pension liabilities.
Muni holders get a lifeline
Detroit's financial mismanagement has devolved into a political morass, but the latest move by Michigan Gov. Rick Snyder is a ray of hope for its municipal bond investors.
Only winner in Detroit muni mess? Wall Street
The only winners in the financial crisis that brought Detroit to the brink of state takeover are Wall Street bankers who reaped more than $474 million from a city too poor to keep street lights working.The city started borrowing to plug budget holes in 2005 under former Mayor Kwame Kilpatrick, who
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Mary Beth Franklin, InvestmentNews
Davis D. Janowski, InvestmentNews