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Tag state and local politics

H1 2023 thoughts on the municipal market

The COVID emergency is officially over.  The Russian invasion of Ukraine is not over.  Now what? Not raising the U.S. debt ceiling is currently the single most important threat to the U.S. economy and standing on the world’s stage.  Federal… Continue Reading →

Building and Developing Your Career in Public Finance:  Stories from the Field

On behalf of the Milken Institute, Center for Financial Markets I recently interviewed five practitioners, who each took different paths to become successful in banking, economic development, bond insurance underwriting, national association leadership and regulatory education.  To give early and… Continue Reading →

What will 2023 Bring?

We take a ramble through municipal bond volume and trading activity, caution readers about year-over-year (YOY) comparisons, discuss the consequences of COVID migration patterns in the context of static population growth, raise potential credit concerns and comment on the unnecessary… Continue Reading →

San Diego City’s Financial Crisis: The Past, Present and Future

The Grand Jury of San Diego issued a report of this title yesterday.  Also, at yesterday’s GFOA (Government Finance Officers Association) business meeting, the group voted  that the Government Accounting Standards Board should stay away from the topic of sustainability. … Continue Reading →

Is the State of Illinois Insolvent?

The Illinois Comptroller’s April report  is scary reading.  The state is $4.5 billion in arrears on payments to vendors and others (like school districts and service providers) with no end in sight.  The Comptroller expects 2011 to be worse.  The following chart… Continue Reading →

Los Angeles, LADWP and Political Risk

Tight financial margins are not kind to political squabbles.  In the last few weeks the city of Los Angeles has been engaged in a squabble with the city council and its utility, the Los Angeles Department of Water and Power… Continue Reading →

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