Buffet Decides to Leave the Municipal Bond Market

    A decision by Warren Buffett’s Berkshire Hathaway Inc. to end a large wager on the municipal-bond market is deepening questions from some investors about the risks of buying debt issued by cities, states and other public entities.   The Omaha, Neb., company recently terminated credit-default swaps insuring $8.25 billion of municipal debt. The termination,… Continue reading Buffet Decides to Leave the Municipal Bond Market

California City Declares Bankruptcy

Stockton, California has filed for Chapter 9 protection, making it the largest American city ever to declare bankruptcy. The filing comes after officials were unable to reach a deal with the city’s creditors to restructure hundreds of millions of dollars of debt under a new state law designed to help municipalities avoid bankruptcy. A detailed… Continue reading California City Declares Bankruptcy