Republican Congressman John Mica has confirmed that, as the new House Transportation and Infrastructure Committee chairman, he plans to bring Build America Bonds back, according to Bloomberg.
The U.S. muni bond market continues to trouble investors, and while there are some stand out worries (California, Illinois, New York), others are starting to crop up.
Charles Doty of Asset Preservation Advisors spoke with CNBC this morning about the state of the muni bond market.
The drop in value in U.S. municipal bonds has unnerved many investors, but it is not nearly as big a problem as what’s going on in Europe, according to SocGen.
There is an eerie calm that has descended on the Irish story. IMF and EU folks are ‘up country’ taking a look-see and kicking some bank tires. The market for Irish debt has stabilised and the local equity index has improved at the prospect of some sort of deal that […]
[credit provider=”markindetroit on flickr” url=”http://www.flickr.com/photos/mechmed/3071682980/”] The City of Hamtramck, Mich. is seeking state permission to declare bankruptcy, according to The Detroit News (via Mish).City Manager Bill Cooper says he’s going to run out of money on January 31:
The financial/hedge fund/banking crisis is over!