Category: Bonds

Stock-taking?: Part 2, “An unconfirmable plan”

16 October, 2014 (10:00) | Bankruptcy, Bonds, California, Debt, Markets, Municipal bankruptcy, Pension funds, Primer posts, Stockton | No comments

[Continued from yesterday's Part 1.] By: David A. Smith Do I have your attention now? Yesterday we saw, via simultaneous articles in The Sacramento Bee (October 1, 2014) and Los Angeles Times (October 1, 2014; navy font), that despite the City of Stockton’s willingness to keep paying CalPERS at 100% even as other creditors were […]

Stock-taking?: Part 1, “Simply Invalid”

15 October, 2014 (10:00) | Bankruptcy, Bonds, California, Debt, Markets, Municipal bankruptcy, Pension funds, Primer posts, Stockton | 1 comment

By: David A. Smith As politics is the process that advances the interests of the majority, law is the process that protects the interests of the minority, and when those who make the laws find themselves forced to live with laws others have mad, including the bankruptcy laws and the Constitution from whence they derive, […]

International Law’s Tinkerbell moment: Part 2, The ones who had hissed

14 July, 2014 (09:53) | Argentina, Bonds, Cramdown, Finance, International law, Law, Markets, Politics, Recapitalization, Securities, Speculation, World Cup |

[Continued from yesterday's Part 1.] By: David A. Smith Do you believe in bondholder rights? “If you believe,” Peter shouted to the voices, “clap your hands; don’t let Tink die.” Many clapped. Peter Pan, Chapter 13, Do you believe in fairies? As we saw in yesterday’s post, like Tinkerbell international law must be believed in […]

International Law’s Tinkerbell Moment: Part 1, What do you think?

11 July, 2014 (10:00) | Argentina, Bonds, Cramdown, Finance, International law, Law, Markets, Politics, Recapitalization, Securities, Speculation, World Cup | 1 comment

By: David A. Smith Do you believe in international law? Tinkerbell’s voice was so low that at first he could not make out what she said. Then he made it out. Peter Pan, Chapter 13, Do you believe in fairies? Though ‘international law’ does not exist (it presupposes a lawgiver with dominion over all), international […]

Month in Review, March, 2014: Part 2, No spin here, no sirree

2 May, 2014 (09:00) | Bankruptcy, Bonds, Cities, Dictators, Discrimination, Housing, Month in review, Mount Holly, Municipal bankruptcy, New York, Public consultation, Puerto Rico, Speculation, Taxation, Ukraine, US News, Zoning |

[Previous Months in Review available here: Feb 14, Jan 14] [Continued from yesterday's Part 1.] By: David A. Smith Because affordable housing cannot exist unless the state or nation’s economy and polity are basically sound, roughly half of my March posts dealt with issues of state or national fiscal viability (Puerto Rico and Ukraine), housing […]