Category: Scranton

Dunderheads: Part 3, sell the Brooklyn Bridge?

27 July, 2012 (09:05) | Capital markets, Cities, Guarantees, Municipal bankruptcy, Municipal bonds, Real estate taxes, Scranton, US News |

By:David A. Smith   [Concluded from yesterday's Part 2 and the preceding Part 1.]   What two days ago seemed, judging from its New York Times (July 11, 2012) story, to be merely a personal and political spat between Scranton’s mayor and its city council, has now been revealed, by digging backwards into an earlier […]

Dunderheads: Part 2, 78% tax increase

26 July, 2012 (09:05) | Capital markets, Cities, Guarantees, Municipal bankruptcy, Municipal bonds, Real estate taxes, Scranton, US News |

By:David A. Smith   [Continued from yesterday's Part 1.]   Yesterday, starting with a New York Times (July 11, 2012) article about Scranton’s mayor’s cutting of all city salaries, including his own, to the Federal minimum wage, we jumped back a few weeks earlier, to a New York Times June 26 story (Arial red) that […]

Dunderheads: Part 1, 19% structural budget deficit

25 July, 2012 (11:55) | Capital markets, Cities, Guarantees, Municipal bankruptcy, Municipal bonds, Real estate taxes, Scranton, US News |

By:David A. Smith   No one will be seated after the start of each performance, read movie theatre signs of my childhood, because unless you followed the plot from the beginning, you’d be lost and might confuse heroes from villains. We’re taking over for your city council   A similar confused fate would befall readers […]