Paul Burton

Recent Stories From this Author

Expert: Market Gauges Bankruptcy Risk by State Restriction Levels
July 31, 2014 Risk costs vary by level of bankruptcy restrictions states place on localities, an insolvency expert said at a Bond Buyer...

MBTA Retirement Fund: Pioneer Report 'Preconceived'
July 29, 2014 The MBTA Retirement Fund defended its performance and called a highly critical Pioneer Institute report 'preconceived."

DiNapoli: N.Y. City Outyear Gaps Manageable
July 29, 2014 New York City projects a balanced budget and manageable out-year budget gaps under current economic conditions, State...

Report: Cronyism, Conflicts Stunt MBTA Retirement Fund
July 28, 2014 Cronyism and “endemic” conflicts of interest make the pension fund of Greater Boston transit employees a cautionary tale, said...

Stringer: N.Y. City Pension Funds Returned 17.4% in Fiscal 2014
July 28, 2014 New York City's five public employee pension funds achieved a 17.4% investment return for fiscal 2014 to bring their total...

MTA to Use Taxable Refunding Bonds to Defease Debt
July 28, 2014 The finance committee of New York's MTA approved a motion to issue special obligation taxable refunding bonds that would fully...

Stringer: Outyear Budget Gaps May Narrow
July 28, 2014 Projected higher tax revenues and pension savings may narrow New York City's outyear budget gaps, according to city...

MTA: Budget Tradeoffs Necessary to Meet Labor Costs
July 28, 2014 New York's MTA proposed a $14.2 billion fiscal 2015 budget and four-year financial plan that assumes an average annual...

Bid-Rigger Zwerner: Probation, Fine, No Jail
July 25, 2014 Brian Zwerner, former manager of Bank of America's municipal derivatives trading desk, received three years' probation and a...

Bondholders Move to Block Receivership for Rhode Island Jail
July 25, 2014 A Rhode Island Superior Court judge will hear a petition by bondholders to oppose receivership for Wyatt Detention Center in...


As banks make more loans to lower-rated municipalities, they may have to follow Interagency Guidance on Leveraged Lending that was developed with private and corporate borrowers in mind.

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