Tag: Moody’s

Time for Bond Investors, Especially in Chicago, To “Know What You Own” »

Four U.S. cities went belly up recently, and all declared bankruptcy largely due to unaffordable government pension costs. The outcomes of these bankruptcies should make everyone think twice about lending money to cities with serious public pension debts. The graphic below shows the outcome of the municipal bankruptcies in Vallejo, Detroit, Stockton, and San…
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$2 Trillion Debt Crisis Threatens 100 U.S. Cities »

In a new article in the London Guardian, “$2 Trillion Debt Crisis Threatens to Bring Down 100 U.S. Cities,” Elena Moya reports that “Overdrawn American cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the U.S. economic recovery. Nor are European cities safe—Florence, Barcelona, Madrid,…
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