Here’s a podcast with the author on Derivactiv, Municipal Market Pulse; a bit long but covers a lot of ground:  http://www.derivactiv.com/Podcasts/Natalie_Cohen_Muni_Bond_Market_Is_Not_Systemic04-20-2010.mp3
Municipal Market Pulse podcasts, produced by Derivactiv are also available on iTunes (for the ubernerds like me; ha, you thought I was listening to music)

municipal bonds

The author on Bloomberg TV discussing the coming municipal market collapse (not).

municipal bonds

An article about upstate New York town of Kingston and their discussion of fiscal stress, union contracts and the debate over Chapter 9 bankruptcy.

Chapter 9, fiscal stress, municipal bankruptcy

Tight financial margins are not kind to political squabbles.  In the last few weeks the city of Los Angeles has been engaged in a squabble with the city council and its utility, the Los Angeles Department of Water and Power (LADWP).  The city’s mayor wants the utility to implement green power, the utility asked for [...]

California, fiscal emergency, municipal bankruptcy, state and local politics

We have two opposing camps in the muni-market at the moment: those who say it is the next systemic shoe to drop and the rating agencies that are systemically raising ratings.
Which is right?
We have moved from a market that has had heavy intermediation from the bond insurance companies to one where investors are on their [...]

ballot initiatives, bond insurance, community development district, direct democracy, liquidity, municipal bankruptcy, municipal bond default, ratings, state and local politics, states

All expectations are that Harrisburg will miss its payment to Covanta, the incinerator operator, as reported widely in the municipal finance media. Concerning the city’s ability to file Chapter 9 without going through Act 47, see my post about Westfall’s Chapter 9. There are detailed and specific conditions when a municipality may file in Pennsylvania [...]

No tags

I just came across this blog from John Moorlach, Orange County.  Scroll down for a “five year lookback” on the discussion about San Diego, thought you might find it of interest.

fiscal stress, municipal bankruptcy

Just thought I would post a really useful link for documents and explanations of the financial regulatory reform legislation as it moves through Congress.  As you know, the Senate Banking Committee approved the “manager’s amendment” and the discussion will likely go to the floor for debate, maybe after the Easter recess.  Like everything else in [...]

regulatory reform

The financial reform proposals, designed to eliminate systemic risk, could actually trigger another meltdown upon the bill’s passage.  This is due to the ratings notching approach that has given rating credit to government support since the meltdown.  A change in the expectation of support – both emergency and on-going would result in ratings downgrades for [...]

fiscal emergency, fiscal stress, municipal bonds, ratings

I am adding a link to this article that updates Toledo’s fiscal situation.  (See prior post.)  The city is wrestling with a budget gap and trying to negotiate with unions over compensation.  Ohio is a state that has a fiscal emergency program and municipalities may not file for bankruptcy without going through the state.  The state’s [...]

fiscal emergency, fiscal stress, municipal bankruptcy, Ohio, Toledo