MuniLand Snaps: January 30, 2012

January 30, 2012

In the Great Depression, there were municipal defaults on a vast scale. Those defaults are brilliantly mapped here by Marc Joffe of Public Sector Credit Solutions.

Good Links

Bond Buyer: White House walks back idea to remove tax exemption from muni bonds

Bloomberg: S&P rejiggers U.S. local-government general obligation rating method

HuffPo: CFTC’s message to municipalities: caveat emptor

Morningstar: Assessing municipal closed-end funds performance

Fitch Ratings: Spreadsheet of 147 Fitch re-ratings of munis and TOBs

Dow Jones: Muni investors turn up nose at Glendale, AZ “hockey bonds”

Patriot News: If Pennsylvania is broke, how does it have $100 million to buy the Forum Place?

GovTech: New York City is testing parking sensors

@Twitter Talk

Michael Hewson @michaelhewson Michael Hewson   *GOVERNMENT SPENDING IN U.S. FELL 2.1% IN 2011, MOST SINCE 1971
Media Consortium @TMCmedia Media Consortium    Good visualization from MapLight: “Who owns your state’s members of Congress?”…
IpreoMuni @IpreoMuni IpreoMuni   Deal issuance continues on sluggish pace. Here is next week’s muni new issuance calendar:
PewCenterOnTheStates @PewStates PewCenterOnTheStates   New report shows state taxpayers pay 14% higher prison costs than budgets reflect:
The Civic Federation @CivicFederation The Civic Federation   CF in the news at @TheBondBuyer, “Unfunded State and Local Illinois Pensions Hit $103B”
PewCenterOnTheStates @PewStates PewCenterOnTheStates   Stateline: California ‘realignment’ shifts state prisoners to county jails
Pension Dialog @PensionDialog Pension Dialog    Backtracking: AK lawmakers are looking to restore a guaranteed monthly pension for state employees
Michael Cooper @coopnytimes Michael Cooper    Turning off the Friday night lights? A Texas school district suspends sports to keep afloat
Common Cause RI @commoncauseri Common Cause RI    We’re looking for interns. It’s glamorous stuff.
Dan McGowan @danmcgowan Dan McGowan   Memo suggests Providence will run out of cash by June……
The Atlantic Cities @AtlanticCities The Atlantic Cities  Why every city needs to be planting rain gardens
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