Oregon voters passed Propositions 66 and 67 yesterday which support Governor Kulongowski’s budget proposal. The following link will give you detail on the propositions, the vote, the key donors to each campaign and the groups advocating pro and con. Oregon is… Continue Reading →
A particularly toxic form of adjustable rate mortgage is going to hit the headlines in the spring and summer of 2010 with defaults, foreclosures and workout discussions extending into 2012. “Option ARMs” also known as “Pick-a-pay” allow the borrower to… Continue Reading →
The slowdown in migration in the U.S. has significant consequences for municipal finance. New population growth in a community has been the driving force in municipal infrastructure finance since the beginning – and the slowdown we have seen over the… Continue Reading →
From the trough of recession it can take up to two more years for cities (and other local governments) to reach their revenue low point, according to research by the National League of Cities and the Brookings Institution. If the overall… Continue Reading →
State legislatures, required to balance their budgets, are up against the wall. Budget gaps have worsened mid-year. When you total the gaps going into the budget for FY2010 with mid-year fissures you come up with more than $190 billion according… Continue Reading →
Further to our discussion of Detroit’s pension, we see that Missouri’s public pension is in a lawsuit with State Street Bank over their securities lending program. These programs are intended to act like demand deposits — but the dollars are huge,… Continue Reading →
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