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Cory Booker’s Slip Reveals Role of Private Equity in Local Government Funding
Against my better judgment I’m going to weigh in on this Cory Booker story. As you probably know, Booker appeared on Meet the Press yesterday and pronounced himself “nauseated” by the Obama campaign’s...
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Bernanke Continually Keeping Powder Dry, Despite Clear Evidence of Economic...
We know that the Federal Reserve kept the status quo on its monetary policies yesterday, extending Operation Twist (selling short-term maturities and buying long-term ones to try and reduce longer-term...
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The Victims in the Libor Scandal Include Local Governments and Local Taxpayers
As we absorb the Libor banking scandal, one of the things that will drive it is a recognition of who this hurt, at whose expense Barclays and a host of other banks made profits by manipulating the...
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Oakland City Council Demands Debt-Swap Renegotiation With Goldman Sachs
If the Libor scandal did end up hurting local governments to a large degree, you can just add that to the list. Local governments have been easy marks for the financial industry during the last decade,...
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Muni Governments Seek Damages in Libor Scandal
Whether or not regulators sanction the major banks in the Libor rate-rigging scandal, plenty of stakeholders plan to sue the banks for restitution. This will be a bit difficult to figure out. Sometimes...
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Federal Reserve Returns to Same Old Failed Solutions to Economic Problems
After watching as they missed both their employment and inflation targets, the Federal Reserve pronounced themselves ready to act, but in the same sluggish, ineffective ways they have over the past...
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Rare Judicial Rulings Go Against Corporate Power
A couple judicial rulings recently actually went against corporate America in favor of consumers and residents, in such a rare fashion that I feel compelled to report on it. First, in Pennsylvania a...
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SEC Wants Oversight for Municipal Bond Market
Given the SEC’s track record on regulatory enforcement, I probably shouldn’t get too excited about this, but somebody needs to regulate the municipal bond market. The Securities and Exchange Commission...
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The Selling of the World, Cont’d
This sounds like a right terrible idea: New York City, embracing an experimental mechanism for financing social services that has excited and worried government reformers around the world, will allow...
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Some Texas Counties Weigh Picking Up Medicaid Expansion Themselves
When the Supreme Court removed the barriers to states opting out of the Medicaid expansion of the Affordable Care Act, one of the first states to say they would reject the extension of additional...
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