Muni sweeps: Municipal unrest

May 2, 2011

Mayors take out the pitchforks

William Alden of Huffington Post writes about a “testy” encounter between mayors and federal officials. The federal dollars for municipalities from the American Recovery Act have basically ended and revenues for state and local governments remain weak. We should expect to see more of this.

Muni sweeps: Garden State warning

April 28, 2011

Fitch Ratings goes “negative” on New Jersey

New Jersey is a wealthy state with lots of industry, excellent higher education institutions and is a “bedroom community” for New York City. But still it faces substantial fiscal problems.

Muni sweeps: Fiscal kabuki

April 26, 2011

Fiscal kabuki is frightening. From the Washington Post’s Ezra Klein:

“If the president doesn’t get serious about the need to address our fiscal nightmare, yeah, there’s a chance it could not happen,” John Boehner told Politico.

Muni sweeps: Riding the Federal cash flow

April 25, 2011

It’s an important week  for the fixed income markets: Ben Bernanke, the chairman of the Federal Reserve, will hold his first press conference on Wednesday.

Pension solutions

April 21, 2011


There are two sides to the municipal pension equation.

One side is the outflow or the payments made to retirees from the pension fund.

This outstanding map from the Pew Center on the States illustrates how each state is adjusting the payments or outflows from their funds. (If you click through to Pew’s site you can see how states have addressed this from 2001-2010.)

Muni sweeps: Show me the money!

April 20, 2011

I forget that the last recession was in the mid 2000’s.

We had a short, intense credit boomlet in between that and the crash of 2008.

The hangover from the housing and financial bubble has been tremendous.

Deficits, caused by the financial crisis,  are still a serious problem in muniland.