Rhode Island’s Republican Party chairman has joined the call for the state to default on the money it owes for its failed investment in former Red Sox pitcher Curt Schilling’s bankrupt video game company. Mark Smiley said Tuesday that taxpayers …
Protesters unhappy with Rhode Island’s failed investment in former Red Sox pitcher Curt Schilling’s video game company urged state leaders last week to default on the money the state owes for the deal. Supporters of defaulting on the 38 Studios …
New York State’s Department of Financial Services announced this week that it has licensed Build America Mutual Assurance Company (BAM) to operate as the first mutual bond insurer serving the U.S. municipal market and guaranteeing state and municipal debt.After receiving …
A growing number of U.S. cities are choosing to fund essential services like public safety and garbage collection over making payments on their outstanding debt, as rising costs and falling revenue deplete their budgets. So far, the bond defaults are …
A federal appeals court on Monday gave new life to a shareholder lawsuit accusing MBIA Inc of securities fraud over a reinsurance transaction that caused the bond insurer to restate six years of results. The 2nd U.S. Circuit Court of …
A New York state appeals court Tuesday dismissed a lawsuit in which bond insurer MBIA Inc. accused Merrill Lynch & Co. of fraudulently misleading it into providing insurance on $5.7 billion of risky debt. The ruling is a setback for …
