Comments on: The shadows of muniland http://blogs.reuters.com/muniland/2014/02/04/the-shadows-of-muniland/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Cate_Long http://blogs.reuters.com/muniland/2014/02/04/the-shadows-of-muniland/comment-page-1/#comment-2393 Thu, 06 Feb 2014 01:11:10 +0000 http://blogs.reuters.com/muniland/?p=13462#comment-2393 It’s got to be a troubling prospect considering how many bond deals are constructed specifically to evade or circumvent debt limits.

http://www.publicsectorinc.org/2014/02/d etroit-pension-borrowings-what-a-tangled -web/

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By: Cate_Long http://blogs.reuters.com/muniland/2014/02/04/the-shadows-of-muniland/comment-page-1/#comment-2392 Wed, 05 Feb 2014 00:22:51 +0000 http://blogs.reuters.com/muniland/?p=13462#comment-2392 For years, Wall Street has been using techniques much like it used in the complex mortgage backed securities markets in order to avoid legal limitations on debt of municipal governments, appealing to the worst instincts (sometimes political and sometimes venal) of local government politicians, often against the public’s interests. As state and local governments come under increasing pressures with their budgets and, most dramatically, with public employee pension obligations, the validity of municipal finance deals will come up again and again. Wall Street banks and the high-powered law firms that approved these deals, often under intense pressure from the banks, will do everything they can to resist the assertion of the public’s interests. But they were almost always the source of these complex deals that were by design intended to avoid the law.

http://www.demos.org/blog/2/4/14/somethi ng-big-just-happened-detroits-bankruptcy -case

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