The Municipal Market Advisors research shop says today that in Minnesota and Colorado upholding states' rights to reduce cost-of-living pension increases for current retirees could affect municipal credit quality. Read More
Category: Blog
PolitickerNY that the State Senate, which must approve Gov. Paterson's pick for MTA chief, Jay Walder, will hold hearings this fall that focus on Walder's reputed pay package. Walder's package, in addition to nearly half-million annually in salary Read More
Earlier today, bond analysts at S&P downgraded to junk status $33 million worth of mortgage debt issued nine years ago by the Dormitory Authority of the State of New York (DASNY). DASNY had raised the debt to complete hospital construction projec Read More
Writing in today's FT, investment-banking veteran (and former New York bailout-facilitator) Felix Rohatyn and ESC consulting-firm president Everett Ehlrich, pointing out that states still face $200 billion in operating deficits in the next t Read More
Between fiscal years 2002 and 2007, New York City's tax revenues increased by 74 percent, to $37.8 billion (really, see ).* A new by Washington's Government Accountability Office (GAO) helps show why. Read More
Ratings agency Moody's has put the state-run Metropolitan Transportation Authority in a sort of purgatory, noting (but more diplomatically than I will) that Albany's utter failure to solve a relatively simple problem "puts the MTA on an operating p Read More
As Albany over finding a new revenue source for the state-run Metropolitan Transportation Authority, the MTA released some numbers this morning showing that its budget situation is getting worse by the minute. Read More
Attorney General Andrew Cuomo handed down an indictment yesterday against former political consultant Hank Morris and former pension-fund chief investment officer David Loglisci. Both men, Cuomo alleges, were involved in a Hevesi-era state pension fu Read More