Public-private-public partnerships? NY Torch

Swiss bank UBS has attracted $1.5 billion to its new global infrastructure fund. "John Fraser, chairman and chief executive office of the UBS AG's funds arm, said ... he was encouraged by the demand from long-term institutional investors, including p...

Joining the Bailout Queue NY Torch

Governor Paterson went before a congressional committee today to call for a federal stimulus package to aid financially troubled states--including this pitch for added funding for infrastructure repair: We in New York have many programs involving roa...

The new muni bond “normal”? NY Torch

As suspected and reported anecdotally, municipal-bond issuance fell off the charts in September and October. Municipal Market Advisors, in its weekly outlook today, notes that such bond issuance was 54 percent below last year's levels for September a...

Take the A train – updated NY Torch

Update: The Times reports that the MTA put off a planned debt issue Tuesday because of the still-inhospitable capital markets. Ohio and Hawaii did the same. The good news is that despite increasing pressure on both revenues and expenses, Standard and...

Take the A train – updated by Nicole Gelinas | | NY Torch

The good news is that despite increasing pressure on both revenues and expenses, Standard and Poor’s has affirmed the Metropolitan Transportation Authority’s “A” rating, with a stable outlook.

Keep the red ink flowing NY Torch

In an op-ed called "Keep the Money Flowing," the Daily News's Errol Louis says that the idea that "federal, state, and local governments all need to cut spending" is a "dangerous myth." Louis quotes economist James Galbraith in saying that state spen...
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