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Bonds

The Takeaway

Bond King's Departure Shakes Up Market

Wednesday, October 01, 2014

Known as the "Bond King," Bill Gross founded Pimco in 1971. The firm manages the biggest bond fund in the world, but Gross's departure has unsettled investors.

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WNYC News

NYC Budget Tests Mayor's Bonds with Wall Street

Tuesday, June 10, 2014

The city's bonds are getting good ratings, but some investors are still worried.

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WNYC News

To Bond or Not To Bond? Cuomo's Budget Asks the Question

Monday, January 20, 2014

Budget analysts are asking why Governor Andrew Cuomo wants to pay to overhaul New York’s classrooms by issuing $2 billion in debt while also cutting taxes by the same amount.

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WNYC News

Is S&P Engaging in the Same Old Practices?

Wednesday, September 18, 2013

Concerned that it might be losing out on business, a major ratings agency loosens its standards for analyzing bonds tied to home mortgages. Right away, clients start lining up for gold star, Triple-A ratings on these real estate bonds that might get a lower rating somewhere else. Sound familiar?

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Transportation Nation

MTA Bond Tied to Storm Surge a Big Hit

Friday, July 26, 2013

WNYC

Investors are betting against another Sandy-sized storm hitting New York City. The first ever bond tied to storm surge levels around New York city generated so much market interest that the bond has grown by 60%.

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World Weekly with Gideon Rachman

Instability rules in Italy

Tuesday, February 26, 2013

Instability rules in Italy

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The Brian Lehrer Show

Goldman Sachs Funds Anti-Recidivism Program

Friday, August 03, 2012

New York City Deputy Mayor for Health and Human Services Linda Gibbs discusses the deal between the city and Goldman Sachs and the potential of social impact bond financing for social service programs.

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World Weekly with Gideon Rachman

A new phase in the eurozone crisis?

Tuesday, November 15, 2011

A new phase in the eurozone crisis?

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The Takeaway

As Berlusconi Agrees to Step Down, Italian Bond Yields Reach Record Highs

Wednesday, November 09, 2011

Interest rates on Italy's debt have soared to dangerously high levels, as bond yields hit 7.4 percent — the level that has driven other euro zone countries to seek bailouts. In comparison, Germany's interest rates stand at just 0.24 percent. Wednesday's news comes just a day after Prime Minister Silvio Berlusconi pledged to step down on the condition that Parliament pass an austerity budget required by the European Union. Uncertainty over whether Europe's third largest economy will be able to meet its fiscal challenges will continue to test world markets.

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The Takeaway

Cat Bonds: Making a Buck Off Disaster

Thursday, March 17, 2011

Wednesday on The Takeaway, Wall Street and Finance reporter for The New York Times, Louise Story mentioned the existence of something called a "cat bond."  How do catastrophe bonds work? Essentially, these bonds are packages of insurance risks and it's a complex market, says Louise Story. As weather events get worse and more risky, the insurance companies are wiling to pass along this risk to the investors. However, when the market get too big and the risks get too high, will we see something akin to the mortgage market bust?

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WNYC News

Global Public Debt Fear Hits New Jersey But Revenues Trend Up

Saturday, January 15, 2011

Market watchers say not since the 2008 meltdown have municipal and state governments had such a hard time finding buyers for  the bonds as they did this week. That global anxiety over public debt was felt by the state of New Jersey.

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The Takeaway

SEC Investigates Country's Largest Public Pension Fund

Friday, January 07, 2011

Louise Story, Wall Street and finance reporter for The New York Times, discusses her  breaking story on a new investigation by the Securities and Exchange Comission against the California Public Employees' Retirement System, known as Calpers. During the financial crisis, the fund lost a significant portion of its portfolio, leaving the California on shaky financial ground.

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The Takeaway

Government Bonds Benefit Wall Street Banks

Wednesday, June 16, 2010

President Obama’s "Build America" bonds were supposed to help cash strapped municipalities pay for roads, schools or construction projects, but they may be benefiting Wall Street banks as well.

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Transportation Nation

California update: Effort to cancel high-speed rail bonds fails

Monday, April 19, 2010

(Collin Campbell, Transportation Nation) --Assemblymember Diane Harkey had a good narrative going.  Before going into government, she was a banker.  She majored in economics in college.  She has been raising the red flag over California's bad bond rating and endless borrowing in Sacramento earlier and more loudly than many of her colleagues.

So, as she searched for ways to help right the ship of spending, she settled on the $9.95 billion in voter-approved bonds for high-speed rail.  Huge amounts of the money has yet to be spent.  A rarely-used article of the California Constitution allowed her to propose a reduction in the amount of borrowing for the project.  And so she did -- AB 2121 could have taken more than $9 billion out of the project's bank.

Today, her effort failed.  Assembly Democrats (Harkey is a Republican) amended her bill to save the bonds, but added stiffer requirements.  "The amendments basically present a six-year finance plan, so that we know what it is we're doing," Harkey said.  If passed, it would add more financial reporting, tracking mechanisms and long-term financial planning to the project.  The move shows two important things: the state is strapped and the California High-Speed Rail Authority cannot stumble in the footsteps of projects like the Bay Bridge, which went dramatically over cost.  Second, Markey, who is friendly with Tea Party people in her district, may represent forces Democrats everywhere will be listening to this year.  Even this proposal, in climate-conscious and transit-loving California, may face questions about the green of the money it costs before the green of the environmental impact it promises to have on the state's climate.

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