Kick the Can

Wednesday, February 19, 2014


As we observe the efforts to address the various fiscal challenges facing municipal markets across the country, it is interesting to note the “common solution” appears to be avoiding any “real solution.” In most cases, the “solution” either does not address the issues or pushes the problems as far into the future as possible through refinancing. In the last 90 days, two of the biggest fiscal challenges (Birmingham, AL and Harrisburg, PA) have both been “resolved” in remarkably similar manners.
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