Category: Proposition 13

Twenty years into the muck hole: Part 2, Bad luck, it’s got to land on somebody

22 January, 2014 (09:00) | Alabama, Bonds, Cities, Infrastructure, Jefferson County, Municipal bankruptcy, Municipal bonds, Orange County California, Proposition 13, Sewer systems, US News |

  [Continued from yesterday's Part 1.] By:David A. Smith Categories: Alabama, bonds, cities, infrastructure, Jefferson County, municipal bankruptcy, municipal bonds, Orange County California, Proposition 13, sewer, US news As we saw yesterday, Jefferson County’s bankruptcy was 18 years in the making, and 2 years in the doing, and the road to ruin and then redemption […]

Twenty years into the muck hole: Part 1, I want to talk some sense to him

21 January, 2014 (09:00) | Alabama, Bonds, Cities, Infrastructure, Jefferson County, Municipal bankruptcy, Municipal bonds, Orange County California, Proposition 13, Sewer systems, US News |

By:David A. Smith   While writing my magnum opus of Jefferson County’s pilgrim’s progress   through bankruptcy to reorganization and exit, I of course became totally absorbed in reading old newspaper articles, and came upon one, from Bloomberg (November 10, 2011) the day right after the filing, that is an unexpected gem for both its jumbled history of […]

Month in Review, December, 2012: Part 2, Globalized failures

8 February, 2013 (09:00) | Bankruptcy, Boston, CalPERS, Disaster response, Economics, Euro, Global news, Month in review, New York City, Proposition 13, Real estate taxes, Relief, San Bernardino, Slums, Speculation |

[Previous Months in Review available here: Nov 12, Oct 12, Sep 12, Aug 12, Jul 12, Jun 12, May 12]   By:David A. Smith   [Continued from yesterday's Part 1.]   In yesterday’s Part 1 of our economically grim December, we followed localized failures in Boston and New York City to the ultimate in personal […]

Month in Review, December, 2012: Part 1, Localized failures

7 February, 2013 (12:33) | Bankruptcy, Boston, CalPERS, Disaster response, Economics, Euro, Global news, Month in review, New York City, Proposition 13, Real estate taxes, Relief, San Bernardino, Slums, Speculation |

[Previous Months in Review available here: Nov 12, Oct 12, Sep 12, Aug 12, Jul 12, Jun 12, May 12]   By:David A. Smith   Housing issues – and this is a housing blog, remember [Who are you reminding – yourself? – Ed.] are inherently place-based, so it’s appropriate to start our review of the […]

Innumeracy precedes insolvency: Part 4, those who obstruct, expire

7 December, 2012 (10:05) | Bankruptcy, California, CalPERS, Cities, Local issues, Proposition 13, Public employee unions, Real estate taxes, San Bernardino, Subprime |

By:David A. Smith   [Continued from yesterday's Part 3 and the preceding Part 1 and Part 2.]   Now, after three parts, we come to the piece’s true villain, as the material already presented from an extensive story in Reuters (November 13, 2012) has established that elected innumeracy led to public-employee overpayment, which led to […]