MuniLand Snaps: May 3
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The Federal Reserve Bank of Cleveland prepared this simple primer on municipal finances.
Good Links
The Hill: Efforts to suspend and/or remove the congressional sequester begin
GovPro: Texas tops list of states with low per-capita spending
FT Alphaville: Open-source government bond rating tool launched
BlackRock: Increasing appetite for munis
ISS-Mag: DTCC to publish public data on interest-rate derivatives
Huffington Post: Overpaid public workers: Actually, we’re moving toward consensus
LAT: S&P sounds alarm over California’s April tax revenue
Bloomberg: California governor will seek “serious cuts” in state’s budget plan
Charlotte News Observer: North Carolina non-profit hospitals provide 1%-13% of charity care
Chicago Tribune: Cook leaders want property-tax-exemption crackdown law
@Twitter Talk
About that much-ballyhooed foreclosure wave, per LPS: March foreclosure starts down 31% from yr ago; actual foreclosures at 18 month low.
— Nick Timiraos (@NickTimiraos) May 2, 2012
@cate_long #CDSVolumes Number of CDS trades last week on State of California: 2 — Kamakura Corporation (@KamakuraCo) May 2, 2012
The IRS office of tax-exempt bonds is hosting a free telephone conference on June 7 at 2 p.m. to discuss theexamination process. #muniland
— Jen DePaul (@BondBuyerJen) May 2, 2012
When #pension plans are misused, there’s a finanical cost and “the erosion of public support for decent retirement” trib.in/KuKyRZ — Pension Dialog (@PensionDialog) May 2, 2012
Jefferson County government to lay off 75: Commissioner says morale is extremely low. bit.ly/KLf0vt
— Birmingham_News (@Birmingham_News) May 2, 2012
Syracuse school board to cut $8MM from 2012-13 budget it passed 2 weeks ago, adding 35 layoffs to 150 job cuts. syracuse.com/news/index.ssf…
— Tim Maniccia (@tmaniccia) May 1, 2012
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Have to agree with the word “simple” to describe the video. The Cleveland Fed’s good intentions to simplify the complex world of public pensions unfortunately missed the mark in some cases. The director of research at the National Association of State Retirement Administrators contacted them and submitted his concerns (read the memo here: http://wikipension.com/images/1/13/Cleve landFedvideoresponse1204.docx.pdf). The Fed has been receptive and is making corrections (one factual misstatement regarding Social Security is removed from the version above).
Nevada spends the least per-capita among the states. What states spend the least per-capita?–It’s a measure of a state’s efficiency–2012 ranking top 5 states: http://tinyurl.com/7cyj4p2
M. Keating
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