1 big thing: The last of the heroic technocrats

By hiking the Fed funds rate to a peak of 20% in 1981, he sparked the 1980–82 recession, drove unemployment to over 10%, and cost President Jimmy Carter...

discovered 3 months ago on Axios
Paul Volcker and Felix Rohatyn Are Remembered in NYC for Decades of Service

The funerals of Paul Volcker and Felix Rohatyn, which took place concurrently on Tuesday just eight...

discovered 3 months ago on Bloomberg
How To Boost Your Portfolio With Fixed-Income Investments

Several income specialists, and contributors to MoneyShow.com, offer their top ideas among some...

discovered 3 months ago on Forbes
Departing Free Press columnist John Gallagher pens open letter to Detroiters

After 32 years covering this city and state for the Detroit Free Press, today marks my final column....

discovered 3 months ago on Detroit Free Press
An alternative to hedge fund ownership of PG&E

Pacific Gas and Electric is in legal and financial trouble over fire damages it has caused by neglecting maintenance of its power lines. Chapter 11 ...

discovered 3 months ago on San Mateo Daily Journal
A bankruptcy judge just approved PG&E's $13.5 billion settlement with fire victims

Late Tuesday, US Bankruptcy Court Judge Dennis Montali approved a long-awaited settlement between...

discovered 3 months ago on Mother Jones
Muni-Bond Safeguards Weakened as Investors Scrounge for Yield

With interest rates at near record lows and vast amounts of cash seeking a home, some issuers in the...

discovered 3 months ago on Bloomberg
Rand Paul's Detroit Shock Doctrine

Detroit has now declared bankruptcy. Naturally, New York’s fiscal crisis thirty-eight years ago comes to mind, though in many respects the differences...

discovered 3 months ago on The Nation
Felix Rohatyn saved NYC from bankruptcy — but couldn’t mend its risky fiscal ways

He’s most remembered, though, for a public role. In 1975, Gov. Hugh Carey tapped him to save New...

discovered 3 months ago on New York Post
Detroit Bankruptcy Bankrupts Democracy

Detroit elected a new mayor November 5 and he will take office in less than a month. It is being defined in federal bankruptcy court—and by an “emergency...

discovered 3 months ago on The Nation
Mayor Cooper says Nashville is "in receivership." It's not.

At a speech Tuesday morning in front of hundreds in Nashville's business community, Mayor John...

discovered 3 months ago on News Channel 5 Nashville
What, Us Worry? California Lawmakers Still Ignoring Dark Pension Clouds.

The law's clear intent was for every other California agency to follow its model. The legislation...

discovered 3 months ago on Reason.com
Lessons from Orange County’s 1994 bankruptcy: John Moorlach

What lessons have we learned 25 years after Orange County’s 1994bankruptcy? When local government...

discovered 3 months ago on Long Beach Press-Telegram
Moody's: Detroit is among weakest of big US cities to weather recession

The 14-page report examines how ready the country's largest cities are to handle a recession similar...

discovered 3 months ago on Detroit News
Chicago, Detroit lag U.S. big cities in recession readiness: Moody's

Chicago and Detroit are the least prepared among the 25 largest U.S. cities to weather an economic...

discovered 3 months ago on FOX Business
5 years out of bankruptcy, can Detroit avoid another one?

Tuesday marks the five-year anniversary of Detroit's exit from the largest city bankruptcy in the...

discovered 3 months ago on Detroit Free Press
What became of key players from Orange County’s 1994 bankruptcy?

Twenty five years ago this month, Orange County went broke, filing what was, at the time, the...

discovered 3 months ago on Orange County Register
O.C. was a laughing stock, but fiscal fiasco made taxpayers safer

As if losing $1.64 billion in public money wasn’t humiliating enough, bankruptcy turned Orange...

discovered 3 months ago on Orange County Register
John Gallagher: Detroit’s bankruptcy left lives of ordinary residents untouched, author says

It's been five years since the City of Detroit emerged from a municipal bankruptcy deemed by many to...

discovered 3 months ago on The Idaho Statesman
Felix G. Rohatyn, Financier Who Piloted New York’s Rescue, Dies at 91

For nearly two decades, from 1975 to 1993, as chairman of the state-appointed Municipal Assistance...

discovered 3 months ago on New York Times
A GOP defense of Trump: Thanks, Obama

Arguably, the two defining issues of the last several years have been gun violence and President Trump’s misconduct; this week, we got both of those. Tragically, mass shootings at schools happen ...

discovered 4 months ago on Los Angeles Times
The Mustang Mach-E is fast, nimble, smooth. Is this the electric vehicle America has been waiting...

-E prototype’s Mustang-style shark nose, tri-bar lights and sporty proportions turned heads as...

discovered 4 months ago on USA TODAY via Yahoo Finance
Oakland Clean Energy Proposal AMP-lifies Fears in Alameda | East Bay Express

Alameda Municipal Power may be the oldest publicly owned electric utility in the western United...

discovered 4 months ago on East Bay Express
Opinion: Detroit can drive the future of autonomous vehicles

A decade ago, as Detroit was hurtling toward municipal bankruptcy and the region’s auto industry was...

discovered 4 months ago on Detroit News
Should You Invest in First- or Second-Lien Mortgage Notes?

Mortgage note investing isn't a well-known avenue of real estate investing, but it can be very...

discovered 4 months ago on The Motley Fool
Retirement Planning: The ‘Good Ole Days’ are Gone | ETF Trends

When it came to the stock market my grandparents must have slept like babies. It wasn’t because they...

discovered 4 months ago on ETF Trends
‘Broke: Hardship and Resilience in a City of Broken Promises,’ by Jodie Adams Kirshner: An Excerpt

Miles strode through the streets of Detroit, long-legged and focused, carrying a cup of keys to all the houses he contracted and an envelope of charge cards to cover construction supplies. On ...

discovered 4 months ago on New York Times
Pete Buttigieg may face sharp criticism at Democratic presidential debate after surge in polls

The stage for the Democratic presidential primary is seen before Wednesday's debate in Atlanta. Four...

discovered 4 months ago on Hartford Courant
Detroit bankruptcy creditor demands more time for riverfront condos

Detroit’s stiffest opponent in its 2013-14 bankruptcy case is now demanding more time to develop two...

discovered 4 months ago on Detroit Free Press
Pressure grows for California governor to allow PG&E takeover

California Gov. Gavin Newsom, sitting back and watching PG&E Corp.’s bankruptcy run its course is no longer an option. San Francisco, the city he once served as mayor, wants ...

discovered 4 months ago on Los Angeles Times
For municipal defaults, booms are just as dangerous as busts

“boom default” cases, the authors write, population and productivity growth remains strong right up...

discovered 4 months ago on Market Watch
Here’s how the fight to control the utility involved in California wildfires could play out

The upshot of this is that whether costs go up or down — which can depend — advocates for municipal...

discovered 4 months ago on Market Watch
‘Broke’ Chronicles a City Out of Cash and Awash in Desperation

Detroit does not have the luxury of solving one problem at a time. It has been scarcely five years...

discovered 4 months ago on New York Times
Pension vs. 401(k): What's the Difference?

Pensions provide an ongoing, stable income for life. A 401(k) is a savings plan. Here are the major differences and how they work.

discovered 4 months ago on TheStreet.com
How should PG&E be overhauled?

PG&E clearly needs an overhaul of some kind — and the state is complicit in its fall from grace, since its Public Utilities Commission oversees...

discovered 4 months ago on MSN News
Giuliani Lawyer Advised Company Shut Down Over Fraud Complaints

The company president threatened customers in emails, the FTC said, including one where he...

discovered 4 months ago on The Wall Street Journal
The City That Cycles With the Young, the Old, the Busy and the Dead

By the standards operative on most of planet Earth, this is not an especially wonderful day for a...

discovered 4 months ago on New York Times
Bankrupt Puerto Rico eyes new debt policy, will pay holiday bonus

Puerto Rico would place restrictions on its future debt sales under proposed legislation that won...

discovered 4 months ago on Reuters via Yahoo News
California Utility Meets With Governor Amid Bankruptcy Case

California's governor called the chief executive of a troubled utility to his office on Tuesday for...

discovered 4 months ago on US News & World Report
WSJ News Exclusive | California Mayors Join Campaign to Buy Out PG&E

By law, the utilities commission must determine that any plan approved by a federal bankruptcy court...

discovered 4 months ago on The Wall Street Journal
Alexander Library resumes six days of service a week

At one point, the financial situation in North Las Vegas led city officials to consider receivership, the state’s alternative tomunicipal bankruptcy. But...

discovered 4 months ago on Las Vegas Review-Journal
Recessions Are Racist (but They Don’t Have to Be)

Anthony Hamilton’s voice sounds the way a recession feels: full of struggle and loss. As the country fell deep into recession, black communities...

discovered 4 months ago on The Nation
American towns that used to be poor but are now rich

These cities gone from bust to boom thanks to their thriving arts scenes, vibrant downtown digs, and more. The post American Towns That Used to Be Poor...

discovered 4 months ago on MSN News