Part III of James Spiotto’s Series on Fiscal Distress Myths and Realities: Access and the Cost of Borrowing is a Reflection of the Perceived Risk of the Government Credit Fiscal Distress Myths and Realities Part I: Default Rate Fiscal Distress...
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Fiscal Distress Myths and Realities Part II: Municipalities Use of Chapter 9 is Rare
Part II of James Spiotto’s Series on Fiscal Distress Myths and Realities: Municipalities Use of Chapter 9 is Rare Compared to Corporations Use of Chapter 11 See Part I of this series: Default Rate for State and Local Government Debt Has Been Relatively...
Fiscal Distress Myths and Realities Part I: Default Rate for State and Local Government Debt
Part I of James Spiotto's Series on Fiscal Distress Myths and Realities: Default Rate for State and Local Government Debt Has Been Relatively Low Especially When Compared to Corporate Debt Default Myth: There is no difference between the default rate...
Featured Conference: Brookings/Brandeis/Washington University 5th Annual Municipal Finance Conference
On July 12, 2016, the Hutchins Center on Fiscal and Monetary Policy at Brookings Institution, the Rosenberg Institute of Global Finance at Brandeis International Business School, and Olin Business School at Washington University St. Louis are teaming together to...
Is Chapter 9 the Best Resolution Mechanism for Financially Distressed Schools or Are There Better Alternatives? – PART TWO
STATE MONITORING, OVERSIGHT, INTERVENTION, REFINANCING AND, IF NECESSARY, DISSOLUTION OF FINANCIALLY DISTRESSED SCHOOL DISTRICT by James E. Spiotto* This is Part Two of the two part series on the alternatives available to a financially distressed school...
Written Statement of James E. Spiotto to the U.S. Senate Judiciary Committee
By James Spiotto United States Senate Committee on the Judiciary Hearing on Puerto Rico’s Fiscal Problems: Examining the Source and Exploring the Solution Is Chapter 9 Bankruptcy the Ultimate Remedy for Financially Distressed Territories and Sovereigns Such as Puerto...
Congress’s Role in Saving Puerto Rico from Financial Meltdown and Imminent Bankruptcy
by James Spiotto On December 1, 2015, the United States Senate Committee on the Judiciary held a hearing on whether and how best to assist Puerto Rico and its related municipalities and public corporations now facing severe financial challenges and economic distress....
Reducing Risk to Payment of State and Local Government Debt Obligations, Statutory Liens from Rhode Island to California SB222
by James Spiotto Government finance officers readily will admit that they consider assuring access to the capital markets at a low cost as part of their duties to their respective governmental bodies. The interest rates or the cost of borrowing is viewed generally as...
Chapter 9 and Alternatives – Part Three: Competing Interests in Chapter 9 and Bondholders’ Rights
by James Spiotto Chapter 9 is generally viewed as the remedy of last resort for troubled municipalities. If permitted by its state law, a municipality typically does not seek Chapter 9 relief unless it is in extreme financial distress with no obvious solution. Among...
Chapter 9 and Alternatives – Part One: Lessons Learned: An Update on the Municipal Bankruptcy Experience
by James Spiotto The state legislatures, in considering how best to assist local governments facing financial challenges or economic distress, may find instructive how other states have addressed these problems and the alternatives and opportunities available in the...