Bankruptcy loses its taboo for California’s cities

July 11, 2012

San Bernardino is the third Golden State city to fail in two weeks as the housing bust and bad governance have left California’s heartland strained. Investors seem sanguine, but aggressive court tactics and more filings could hurt them and push up costs for other muni borrowers.

Fiction an easy sell in U.S. muni market

December 9, 2010

Armageddon makes for a sexy story. Volatility in the $2.8 trillion U.S. municipal bond market is real, but the scary tale being spun out of budget-busting states like California involves a lot of literary license.

Detroit case revs up bankruptcy option for others

December 3, 2013

Court approval of Motown’s filing may force bondholders, insurers and pensioners to share restructuring pain. The ruling also confirms bankruptcy as a credible choice for even the biggest cities. That could give shaky municipalities a needed kick to get their finances in order.