Good Luck With That: Harrisburg Enters Act 47

Lots of news all around on this.  Try either Bond Buyer:   Harrisburg Enters Pennsylvania’s Act 47 Program

or Bloomberg: Harrisburg, Pennsylvania, Declared ‘Distressed’

Kind of a metaphysical question what defines ‘distress’ for a municipality.  In the census data dump yesterday Braddock, PA is showing a 35% housing vacancy rate. That would be distress and a . . . → Read More: Good Luck With That: Harrisburg Enters Act 47

TARP Payback Outlook Brightens Even Further

On Wednesday, taxpayers received additional paybacks from their investments in the Troubled Asset Relief Program (TARP).

General Motors Corp., which went public last month, repurchased it’s preferred shares in the program to the tune of $2.1B.

Additionally, common shares held by the Treasury are now valued at nearly $17B based on GM’s closing price . . . → Read More: TARP Payback Outlook Brightens Even Further