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Tag Archives: municipal

Hello Emma…

She’s here! Emma.… democratizing access to information in the muni markets… yes! Edgar’s long awaited little sister…  investors now have much better formal access to information about municipal issuers and their ongoing material events… and linked with prices of recent trades for the issuer’s securities… from the MSRB: Release Date: June 1, 2009 Contact: Jennifer […]

What did happen in the auction rate security meltdown?

Bloomberg interview with Saber Partners CEO Joseph Fichera  about the municipal markets and structural inconsistencies… he also asks what happened with the auction rate securities meltdown… there has been so little reporting on the whole issue… (running time = 5 minutes)

it is basis risk (a mismatch in interest rates) that has hurt state and local governments

Reblogged from The Bond Tangent: ~~~~ “After some local issuers’ wayward derivative contracts received a lot of attention from the New York Times, the Tennessee comptroller has proposed some rather dramatic changes to the state’s guidelines for the use of interest rate and forward purchase agreements by local government entities. According to the Bond Buyer, the changes would: prohibit the […]

I think what we are proposing is a fundamental change in the way we will regulate local government financing, …these changes would be revolutionary.”

  Outstanding news from Tennessee… they plan on regulating, at the state level, the sale of complex financial products to municipalities… right on… reported in the New York Times… ~~~~”The Tennessee comptroller plans on Friday to propose a sweeping overhaul of the way the municipal bond market is regulated in the state. The comptroller, Justin P. Wilson, […]

under a national law that allows restructuring of debt only if it produces a savings

From the New York Times we learn of problems with muni swaps in Italy… echoes of problems here with Wall Street preying on municipal officials… (note to Jamie Dimon and other bank heads… you better get out front on this horrible issue… cause any remaining shred of public support for the big banks will evaporate […]

Babs and other tax credit bonds

MSRB NOTICE 2009-15 (APRIL 24, 2009) The American Recovery and Reinvestment Act of 2009 added a provision to the Internal Revenue Code that authorizes state and local governments to issue two types of “Build America Bonds” as taxable governmental bonds with Federal subsidies for a portion of their borrowing costs. The first type of Build […]

Now it’s Jackson Mississippi

From the weekly ‘Northside Sun’: ~~~~ Interest swap deal bad news for Jackson Will Jackson meet Jefferson County’s current fate: a local government slowly dragged into bankruptcy after it bet its municipal bonds on complex derivatives? The Jackson City Council approved a motion to enter into an interest rate swap for its 2002 and 2004 […]

diversify, stay short and lean toward quality

Bond Investing in a Weak Economy – Analysis and Discussion with Jay Mueller of Wells Fargo (Bloomberg News – running time ~ 5 minutes) Mr. Mueller talks about the potential for inflation and he says about buying muni bonds… “use high diversification, stay short, and lean toward quality…”

Making money in munis

 Roundtable Discussion with Thornburg Investment Management Fund Managers George Strickland and Josh Gonze (Bloomberg)… lots of very healthy muni yields available… hear the particulars from some muni fund managers… From FT Alphaville: ~~~~ Munis hoping investors are ready to build America Posted by Stacy-Marie Ishmael on Apr 21 17:33. California and the New Jersey Turnpike Authority are among […]

You go Ms. Evans…

The heart of sucessful democracy is informed and active citizens… they are the jewels of freedom… I love this post in the Nashville Scene blog… ~~~~Councilwoman Emily Evans Accused of Being Uppity Showoff By Caleb Hannan in 40 Jealous Whores,Hannan, Politics Belle Meade Councilwoman Emily Evans gets the royal treatment in Sunday’sTennessean. In the article, Michael Cass explores […]