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Keyword: municipals

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  • Judge Orders Detroit Bankruptcy Be Withdrawn to Protect Municipal Pensions (The Exploding Kind)

    07/21/2013 1:43:58 PM PDT · by whitedog57 · 52 replies
    Confounded Interest ^ | 07/21/2013 | Anthony B. Sanders
    Ingham County Circuit Court Judge Rosemarie Aquilina ordered on Friday that Detroit’s bankruptcy be withdrawn. Aquilina said the 2012 Michigan law that allowed Gov. Rick Snyder to approve the city’s bankruptcy filing, the largest municipal bankruptcy filing ever in the United States, violates the Michigan Constitution. Specifically, Article IX Section 24, which holds that pension plans and retirement systems “shall not be diminished or impaired.” Aquilina said that she will ensure that President Barack Obama gets a copy of her order. “It’s also not honoring the president, who took [Detroit’s auto companies] out of bankruptcy.” bilde “I know he’s watching...
  • Does It Ever Make Sense for a Bond Buyer to Wait?: Joe Mysak

    04/14/2003 7:06:18 AM PDT · by WaveThatFlag · 119+ views
    Bloomberg ^ | April 10, 2003 | Joe Mysak
    <p>If I buy bonds now, will I miss out on the chance to buy higher-yielding bonds if interest rates rise?</p> <p>That's what one writer asked after reading my column last week about John Wilen, an investor in Frisco, Texas, who advocates buying long-term bonds and avoiding so-called ``laddered'' strategies.</p>