Detroit's Finest
Some thoughts on the Detroit situation, addressing many of the points Adam raised last night , but from a slightly different perspective, up over at Dealb%k . ... Read full article
News Topic: municipal bankruptcy
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Detroit Institute of Art Collection--Available to Creditors?
I have a piece on Salon about whether creditors should be able to force the liquidation of the Detroit Institute of Arts collection. The DIA collection is apparently municipal property, although the DIA is an independent non-profit entity that basically ... Read full article
It Takes A Village: Detroit, Chapter 9, and Litigotiation
Legal Solutions to Non-Legal Problems
Again, this is me posting on Adam Levitin's behalf because he is away from Internet access as he owns an Apple computer (often a redundant statement). Adam writes: R. Glenn Hubbard and Tim Kane have an op-Ed in the NYTimes proposing a federal ... Read full article
The Peculiar Vulnerability of Municipal Pensions in Chapter 9
This may be my byline, but I am posting for Adam Levitin. He is not in his office, and his Apple device is not being cooperative with our blog hosting service. He asked me to post for him, apparently unaware that meant that I would also get to take cheap ... Read full article
Detroit's Chapter 9 and the Vanishing Umpires
Steel Cage Match Between Calpers and Bond Investors Continues in San Bernardino Chapter 9 Case
The battle in California municipal bankruptcies between bond investors and Calpers , the California public employee pension system, began in the Stockton Chapter 9 bankruptcy case and continues unabated in the bankruptcy ca ... Read full article
Stockton, California Chapter 9 Filing - Another Outlier, Or Harbinger?
Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way . The wave, however, has yet to materialize, and the bankruptcy ... Read full article