MuniLand

An interesting, on-the-ground look at the bankrupt city of Vallejo, California (via the Huffington Post).

Good Links

WSJ: U.S. cities with bigger economies than entire countries

Reuters: Public pension funds to face calls to set realistic targets

Council of State Govts: State pension systems on the rebound

Reuters: New bond insurer endorsed by National League of Cities

Reuters: Residents seek dissolution of a New York tax district

Reuters: Stockton made scant headway in U.S. pre-bankruptcy talks

Self-Evident: Some perspective on the recent California bankruptcies

Go Lackawanna: New union contracts introduced in Scranton

@Twitter Talk

Not so shocking: 1) Your city forms militarized police unit, calls it “Strike Force.” 2) Your city pays out damages.startribune.com/local/minneapo…

— radleybalko (@radleybalko) July 24, 2012

My story today on the annual private-activity bond survey. PAB issuance saw a 13% decline in 2011 #munilandbondbuyer.com/issues/121_141…

— Jen DePaul (@BondBuyerJen) July 24, 2012

Chapter 9 is not a substitute for political will. It was never meant to be.

— Bond Girl (@munilass) July 24, 2012

Fed’s Raskin: “Much of this so-called liquidity, especially in opaque over-the-counter markets, is potentially illusory & destabilizing” RTS

— Cate Long (@cate_long) July 24, 2012