Far West

WASHINGTON — California Treasurer Bill Lockyer on Monday warned that discussions about states going bankrupt are misguided and lead to higher interest rates on state debt that hurts both issuers and investors.

SAN FRANCISCO — Pension liabilities have tripled from a year ago due to investment losses, siphoning scarce funds from San Francisco at a time when elected officials are already facing a $360 million budget shortfall.

ALAMEDA, Calif. — Siebert Brandford Shank & Co. has hired Joanie Jones-Kelly as a senior vice president.

SAN FRANCISCO —– The bankrupt city of Vallejo, Calif. has so far avoided inflicting severe damage to its bondholders, experts say.

ALAMEDA, Calif. — Los Angeles County has withdrawn from the California Statewide Communities Development Authority, the state’s largest conduit issuer.

State officials on Friday angrily denounced reports that senators may be quietly developing a proposal to allow states facing fiscal crises to seek protection in federal bankruptcy court so that a judge could alter their obligations, including outstanding debt levels.

The Municipal Securities Rulemaking Board announced Friday that it has tapped John Petersen to serve as a public representative on its 21-member board.

ALAMEDA, Calif. — California Gov. Jerry Brown has extended the state of fiscal emergency declared by his predecessor, Arnold Schwarzenegger.

In an effort to prevent the Federal Reserve from bailing out state and local governments in fiscal distress, Rep. Randy Neugebauer, R-Tex., has introduced a bill that would prevent the Fed from buying or selling their municipal bonds.

ALAMEDA, Calif. — Washington priced more than $452 million of general obligation bonds Wednesday in competitive deals that drew multiple bids, even as lawmakers continued to haggle over the state’s growing budget deficit.