Philadelphia Sues Banks for Bond Rate Collusion
The city says seven big banks conspired to inflate rates on VRDO bonds so they could "continue to collect re-marketing fees for doing nothing."
Will Ratings Agency Downgrades Haunt Connecticut?
'Connecticut has less flexibility to meet unanticipated revenue shortfalls,' said Standard & Poor's.
N.Y. Town Officials Accused of Bond Fraud
Prosecutors say it is the first criminal case to allege accounting fraud against city officials in connection with the sale of municipal bonds.
Atlantic City Crisis Threatens Other N.J. Cities: Moody’s
New Jersey's "posture toward Atlantic City reduces the likelihood that it would rescue other financially distressed cities," the rating agency warns.
Lacking Investment Yields, AIG Zeroes in on Profits
AIG Commercial CEO Rob Schimek seeks a bigger bottom line in an era of low investment gains.
Pitch Imperfect: SEC Sues Over Bonds Tied to Schilling Startup
The SEC says a Rhode Island agency and its underwriter defrauded investors in a municipal bond offering that financed Curt Schilling's video game company.
Chicago Issues Debt to Cover Pension Shortfall
A property tax increase helped shore up the city's police and fire fighter pensions, but the Windy City is still cash strapped.