Muni sweeps: “People learn deterrence”

May 12, 2011

Professor John Coffee of Columbia Law School, who is considered one of the foremost legal scholars in the securities area, discusses the effect of the conviction of Galleon Group co-founder Raj Rajaratnam on insider trading:

Muni sweeps: Connecticut may issue layoff notices

May 11, 2011

Connecticut issues layoff notices

The governors are getting it done. And it’s painful.

From the Wall Street Journal:

After months of closed-door talks with state employee unions, Connecticut Gov. Dannel Malloy announced that no deal could be reached to garner $1 billion annual concessions needed to close a $3.5 billion budget gap.

Let’s give Meredith some credit

May 6, 2011

Everybody beats up on Meredith Whitney for her muniland panic call.

Yesterday she doubled down on her prediction of “hundreds of billions of dollars’ worth” of municipal-bond defaults.

Muni sweeps: Clouds for pretty Puerto Rico

May 4, 2011

Happy days may be over in our 51st state. Joan Gralla of Reuters reports:

Puerto Rico’s credit rating might be cut due to its “deeply underfunded” pension system, Moody’s Investors Service said on Tuesday, in a reminder of one of the biggest threats to state and local finances.

Muni sweeps: Arbor Day

April 29, 2011

Among other things today is National Arbor Day.

It’s time to be thankful for our wonderful trees. Some municipalities make the preservation and addition of trees a centerpiece of town planning.

Golden muni derivatives

April 28, 2011

Is the “Golden State” golden?

Some banks and hedge funds don’t think California is so golden after all. And they have bought credit default swaps insuring (or betting) against it’s default.