The incoming Bond Buyer Hall of Famer spent nearly 50 years pairing legal expertise with advocacy, deal structuring and legislative problem-solving to help issuers navigate risks and expand their financing options.

Schools should begin auditing their programs and policies now, and bond buyers should prepare for more credit risks coming with higher education bonds.

The SEC has issued a proposal to rescind its "pay-to-play" rule relating to investment advisers. The rule "was modeled, in large part," on MSRB Rule G-37, Commissioner Hester Peirce said.

Heavy August issuance created fewer oversubscriptions and more demand for concessions, a signal that issuers, advisors and underwriters need to pay closer attention to structure, timing and clearing levels, according to Market Intelligence analyst Jeff Lipton.

Market Intelligence analyst Jeff Lipton argues data center expansion will likely create a reallocation of risk and the market should price the contractual framework of a utility and how that insulates bondholders.

Funded ratios remain useful, but they can mask risky assumptions, illiquid investments and correlated exposures that may force higher government pension contributions during the next downturn, writes Market Intelligence analyst Jeff Lipton.

Introducing The Bond Buyer's newest Muni Hall of Famers who will be honored at an awards dinner in Boston on Sept. 30, 2025.

"I have been very fortunate to contribute to a fascinating sector of the financial industry that is full of ambiguous issues and data," said Tom Doe. "I am flattered to be included in the Hall of Fame, it is a wonderful capstone to my career."

Over nearly 40 years, investment banker Diana Hoadley built a legacy of far-ranging vision and collaboration that left a trail of professional admirers.