Special Report

Commentary

The Bond Buyer accepts bylined commentary pieces of 1000 words or less for publication in the Monday edition of The Bond Buyer and The Bond Buyer online. The deadline for submissions is Noon on the Thursday prior to publication. We reserve the right to edit submissions.

Letters to the editor of 500 words or less can also be submitted for publication.

To submit a Commentary or Letter to the Editor, email the document to Editor in Chief Gavin Murphy at gavin.murphy@sourcemedia.com

SEC Takes Aim at the Municipal Securities Industry

By Kathleen Marcus and Marc Schneider |  Jan 27

The Securities and Exchange Commission’s enforcement division has set its sights on the municipal securities industry, emboldened by its expanded powers under the Dodd-Frank Wall Street Reform and Consumer Protection Act and a new specialization unit devoted to policing muni securities and public pensions.

The Allure of 5% Bonds: Coupon Levitation Creates Magical Savings

By Andrew Kalotay |  Jan 27

During the past few years it has become increasingly commonplace for municipalities to issue serial bonds of various maturities with identical above-market coupons — usually 5%. Depending on prevailing interest rates, these bonds are sold at modest to substantial premiums over par. Since 2007, over 50% of large, longer-term bonds were of this type.

James E. 'Scotty' Ness

Dec 02

James E. "Scotty" Ness is remembered as a successful investor who loved his work and enjoyed widespread respect among his peers.  [Free]

Pension Reform Is Needed to Preserve Public Education

By John Filan |  Nov 23

State and local government revenues fund education, public safety, infrastructure maintenance, and other vital services.

A Better Path for Infrastructure

By Gregory M. Baird |  Oct 28

While many officials may just want to throw money at our nation's infrastructure issues ("We already have the infrastructure bank we need," the Washington Post, Sept. 29), there is common sense in doing things smarter.

Another Stimulus? That’s a Drug We Can Do Without

By Gregg L. Bienstock |  Sep 23

Since the Great Recession started, you and your colleagues at state and local governments across the country have been forced to address budget gaps that have resulted from the economic realities you have faced and continue to face.

AIFA Has Plenty of Champions

By Tom Osborne |  Sep 23

Your Sept. 15 article, "No Love for Infrastructure Bank," fails to properly convey the estimated economic impact of, and demonstrated support for, the proposed American Infrastructure Financing Authority.

It’s Time to Offer Ideas for a Meaningful AIFA

By Tim Frost |  Sep 16

That reporter Dennis Moore, who wrote "No Love for Infrastructure Bank" in the Sept. 15 edition, could find an op-ed piece in the Washington Times and a spokesperson from a self-interest group such as the American Trucking Association to oppose the American Infrastructure Financing Authority is hardly worthy of note.

The Logic of Central Falls: Restoring Chapter 9's Purpose

By Adam Stern |  Sep 09

On Aug. 1, Central Falls filed a rare municipal bankruptcy. The Rhode Island city plans to pay bondholders in full while imposing cuts on pensioners.

Letter to the Editor

S&P Defends Its Downgrade

Aug 29

We would like to address several inaccuracies and misconceptions reflected in your Aug. 17 article "Los Angeles Boots S&P Pool Rating; City Angry Over Downgrades."  [Free]