Category: Default

Chicago’s first domino

18 May, 2015 (16:11) | Bankruptcy, Chicago, Cities, Default, Municipal bankruptcy, Municipal finance, Pension funds, Rating agencies, Real estate taxes, Recapitalization, US News | No comments

By: David A. Smith Scarcely had I finished posting Chicago’s pre-obituary (A tale of two cities, Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, Part 10, Part 11, and Part 12) than the first domino fell, as reported in the Chicago Tribune (May 8, 2015), […]

America’s Cyprus, America’s Caliban: Part 4, From crimes would pardon’d be

7 March, 2014 (09:00) | Bankruptcy, Bonds, Cyprus, Default, Detroit, Municipal bankruptcy, Puerto Rico, Sovereign guarantee, Speculation, US News |

[Continued from yesterday’s Part 3 and the preceding Part 1  and Part 2.]   By:David A. Smith   ”But this rough magic I here abjure, and, when I have required Some heavenly music, which even now I do, To work mine end upon their senses that This airy charm is for, I’ll break my staff, Bury it […]

America’s Cyprus, America’s Caliban: Part 3, I know how to curse

6 March, 2014 (09:00) | Bankruptcy, Bonds, Cyprus, Default, Detroit, Municipal bankruptcy, Puerto Rico, Sovereign guarantee, Speculation, US News |

[Continued from yesterday’s Part 2 and the preceding Part 1.]   By:David A. Smith   “Now I will believe that there are unicorns…” ― William Shakespeare, The Tempest   So far, by referencing a Washington Post (November 30, 2013) article as base camp, we’ve seen that Puerto Rico is laboring under a mountain of debt that […]

America’s Cyprus, America’s Caliban: Part 2, ‘Twas a clever quibble

5 March, 2014 (09:00) | Bankruptcy, Bonds, Default, Detroit, Municipal bankruptcy, Puerto Rico, Sovereign guarantee, Speculation, US News |

  [Continued from yesterday’s Part 1.]   By:David A. Smith   “Full fathom five thy father lies; Of his bones are coral made; Those are pearls that were his eyes: Nothing of him that doth fade, But doth suffer a sea-change Into something rich and strange.” ― William Shakespeare, The Tempest   As we saw […]

America’s Cyprus, America’s Caliban: Part 1, This thing of darkness

4 March, 2014 (09:00) | Bankruptcy, Bonds, Cyprus, Default, Detroit, Municipal bankruptcy, Puerto Rico, Sovereign guarantee, Speculation, US News |

  By:David A. Smith   “Hell is empty and all the devils are here.” ― William Shakespeare, The Tempest   A capital before the US was a country: old San Juan   Islands that are part of a larger nation always feel themselves different: whether Corsica with France, Taiwan with China (or without China), Hawaii […]