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The Illinois case is part of several state-level lawsuits brought by Minnesota-based municipal advisor Johan Rosenberg, accusing banks of conspiring to set the interest rates of state-issued VRDOs artificially high.
June 16 -
It's one of four state cases accusing Wall Street banks of a "robo-resetting" scheme that kept interest on variable-rate debt artificially high.
April 28 -
Variable-rate debt, tender option bonds and even prepaid gas bonds may stage a comeback in the current market, panelists at a GFOA conference said.
October 20 -
Recent court decisions have the potential to up the ante in lawsuits accusing major banks of manipulating the variable-rate market.
September 30 -
John Hallacy talks with Chip Barnett about how fiscal and monetary policy is affecting the municipal bond market. He discusses recent data releases, supply forecasts and the midterm elections and the future of ESG in public finance. (20 minutes)
September 27 -
The inclusion of swaps has the potential to increase claimed damages in the New York State lawsuit, though banks view swap materials as providing a potential defense.
August 17 -
The federal lawsuit brought by Philadelphia, San Diego and Baltimore on behalf of thousands of issuers is similar to a series of closely watched state whistleblower cases that claim banks manipulated interest rates on variable-rate bonds.
June 29 -
The office of Rob Bonta filed its objection to the dismissal with a California appellate court in San Francisco May 19.
May 20 -
As the MTA works toward a post-pandemic future, Kevin Willens, formerly co-head of public finance at Goldman Sachs, becomes its chief financial officer.
January 28 -
Avoiding even the appearance of representing conflicting interests is important for attorneys and municipal advisors alike.
November 22