The 35% subsidy from the federal government, i.e. taxpayers, to the states is about to end. $185 billion in these bonds was issued in 2010. With the House changing hands next year it is unlikely the program will be resurrected. Watch for a very rough year for muni bonds in 2011.
- Malaysia 1MDB Probe Finds Documents Tied to Alleged Transfers to NajibMalaysia’s attorney general said a probe into a troubled state investment fund has uncovered documents related to allegations that money was transferred into the personal bank accounts of Prime Minister Najib Razak. […]
- Troubling Lessons in China's Crumbling Stock MarketThe bubble’s deflation shows China’s reputation for omnipotence in economic matters is hardly unassailable. […]
- Regulators Warn Banks on Loans to Oil, Gas ProducersU.S. regulators are sounding the alarm about banks’ exposure to oil and gas producers, a move that could limit their ability to lend to companies battered by a yearlong slump in prices. […]
- Malaysia 1MDB Probe Finds Documents Tied to Alleged Transfers to Najib