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
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
At 8:30 AM EST, the U.S. government will release its weekly Jobless Claims report. The consensus is that there were 420,000 new jobless claims last week, which would would be 1,000 less than the number released last week.
Also at 8:30 AM EST, the Housing Starts report for November will be released. The consensus . . . → Read More: Economic Events on December 16, 2010