blogs.law.harvard.edu - 11/4/2009
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A money manager friend showed me an interesting research report by Frederick J. Sheehan titled “Dark Vision: The Coming Collapse of the Municipal Bond Market. This is a product of weedenco.com and available only to subscribers, but I will summarize it here.
Sheehan starts off by noting ...
creditwritedowns.com - 11/5/2009
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creditwritedowns.com —
Why aren’t more municipal bonds being downgraded by
the ratings agencies Fitch, Moody’s and S&P? If you...
look at sovereign debt in revenue-constrained countries like Greece, Portugal or Ireland , the ratings agencies are issuing warnings. But, states ...
(more)
The coming collapse of the municipal bond market
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Links 11/4/09
naked capitalism —
... Gamble Michael Shedlock
Fears of a New Bubble as Cash Pours In Wall Street Journal. It is telling that the article describes this as something that the authorities worry will happen, as opposed to is happening.
Pull the plug on the Afghan surge Financial Times
Second Law of Thermodynamics May Explain Economic Evolution PhysOrg (hat tip reader pls)
Wilbur Ross: Commercial Real Estate Crisis Still Looms Boom2Bust
The Coming Collapse of the Municipal Bond Market Phil Greenspun (hat tip reader Dwight) ...
One path to the Georgist solution?
Marginal Revolution —
Without bankruptcy protection, a city that couldn’t pay bondholders
would be forced to raise taxes until it could. This happened to West
Palm Beach, Florida in the Depression and property tax rates rose to
42.5 percent of assessed value. Here is more (interesting throughout) and I thank Chug for the pointer.
"The Coming Collapse of the Municipal Bond Market"
Newmark's Door —
Philip Greenspun has me thinking about shorting muni bonds.
See also the unhappy news in "Public Pensions Face Ugly Choices". ...
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