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The Municipalities Continuing Disclosure Cooperation Initiative was a particularly imaginative enforcement solution directed toward a very specific disclosure issue.
August 30AGFS -
Attempts to boil down state government fiscal performance into bite size chunks can be Quixotic exercises, fraught with data problems and ripe for misinterpretation.
August 26Rosebud Strategies LLC -
Puerto Rico's addiction to debt is not unlike that of an abuser to alcohol or drugs, so perhaps it is time for Puerto Rico to undertake a 12-Step Program, aided by the new financial control board.
August 18Stoever Glass & Co. -
While there is something wild about callable premium bonds, fortunately there may be a way to tame them.
August 10 -
Underhanded pay-to-play practices may come back in play.
August 4 -
Not enough has been done to provide municipal issuers, obligated parties and underwriters the clarity sought and needed by the market.
July 28SOLVE -
In the past 3½ years, the Securities and Exchange Commission has asserted its enforcement role considerably, in what can fairly be described as a form of direct regulation of issuers.
July 12 -
Tennessee, Florida, Arkansas, and Michigan have shown significant improvement in economic health over the past year, while some stronger states have been underperforming.
July 7 -
What's the appeal of the tax-credit alternative? It guarantees that a holder will receive full value as long as he has a matching tax liability. That's true even if the issuing State is in a financial crisis and can't pay its bondholders.
June 30 -
Municipalities buy insurance to obtain a higher credit rating for a bond issue and a commensurately lower borrowing cost. The savings arise from a lower coupon or, if the coupon is fixed, a higher price. But how can municipalities make sure that bond insurance makes economic sense for them? The answer is to pay close attention to the costs and benefits.
June 30