The California Public Employees' Retirement System won't be allowed to sue San Bernardino, Calif., to collect more than $5 million owed by the insolvent city, a judge ruled.
Bankruptcy Judge Rules Against CalPERS in San Bernardino Case
DEC 21, 2012 5:14pm ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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The Roosevelt Hotel, New York, NY