MuniLand Snaps: April 5
As you watch this video of Harrisburg Mayor Linda Thompson trying to justify why she is suing City Controller Dan Miller over a relatively minor issue, you can understand the high level of political dysfunction in the busted capital of Pennsylvania.
State Impact: A new interactive look at the Texas drought
Atlantic Cities: The real boundaries of the Bible Belt
Fitch Ratings: Playback: Fitch discusses wide pension burdens of U.S. states
MSRB: Muniland overseer encourages voluntary disclosure of bank loans by governments
Bond Buyer: Bank of America Merrill is top muniland underwriter
Learn Bonds: How to tell if a municipal bond is tax-free?
Detroit News: City and state approve Detroit consent deal
Reuters: Detroit avoids state takeover, more oversight looms
Chicago Tribune: Former chief of staff to Illinois governor tapped to lead budget office
Chicago Sun-Times: Aldermen insist questions remain on mayor’s Infrastructure Trust proposal
Pensions & Investments: BNY Mellon to face pension funds’ claims over mortgage bonds
Reuters: David Lerner’s brokerage fined $2.3 million for excessive bond markups
PF2: PF2 will release free, open-source public-sector credit framework next month
WaPo: Public-pension pitfalls: What municipal budget troubles mean for bond investors
Rick Snyder @onetoughnerd Approval of the Detroit consent agreement sends a clear message that we will move forward as one Michigan
Mayor Dave Bing @mayordavebing The Detroit City Council’s vote tonight represents a pivotal moment in Detroit’s history.
Silla Brush @sabrush Fed’s Lacker says Volcker rule may be ‘impossible’ to implement
Kamakura Corporation @KamakuraCo CDS trades in State of California last week? 3
Brian Chappatta @BChappatta Fun slideshow (depending where you live): Most & Least Taxing States 2012 http://bloom.bg/HMSXmB
Rochester Funds @RochesterFunds More from Scott: “Many of the naysayers and fear-mongers in the muni market came up empty-handed in their predictions”
Heather Long @byHeatherLong Harrisburg debt saga followers take note: 6 of 7 council members now support bankruptcy. Patty Kim says it’s now only way 4 fair shake