Fox Business - The Power to Prosper
Search Site

Meredith Whitney

Calif on the Brink: Pension Crisis Poised to Worsen

A growing number of key California cities are a lot worse off than previously thought, thanks to new changes coming in the way state and local governments must account for their pension costs.The pension changes from Moody's, and separately the Governmental Accounting Standards Board, scheduled for this month, could result in Los Angeles, San Francisco, San Jose, Azusa and Inglewood joining fiscally troubled Stockton and San Bernardino, among others, as severe credit risks. It's all largely due to soaring employee retirement costs, according to new analysis based on the methodology by Bob Williams and his team at State Budget Solution (SBS), a non-partisan organization that studies state budget crises. The new rules could nearly double California's unfunded liabilities to $328.6 billion. Moreover, California cities that have already filed for bankruptcy protection, like Stockton and Vallejo, will fall deeper into the red. Officials in these California cities did not return calls for co...

Read More

  1. Can California Get Out of its Financial Hole?

    Reason.com Managing Director Tim Cavanaugh on cities in California filing for bankruptcy.

  2. J.P. Morgan's Questionable Disclosure Call

    Last year, as panic raged through the municipal bond market that cities and possibly even states might default on their debt under the burdens of massive government ...

  3. Are There Still Opportunities for Investors in Municipal Bonds?

    American Century Senior V.P. Steven Permut on how investors can gain from municipal bonds.

  4. States on the Road to Recovery?

    Janney Montgomery Scott municipal credit analyst Tom Kozlik argues states are on the road to recovery.

  5. Larkin Makes Call on Muni Defaults

    Herbet J. Sims & Co. senior vice president Dick Larkin gives his outlook for the muni-bond market.

  6. Regulations Throw a Wrench into Bond Market

    DEK: Bob Auwaerter, Vanguard head of Fixed Income, on how government regulations and the Volcker Rule will impact the bond market in 2012.

  7. Wall Street's Biggest Losers of 2011

    Being among the biggest losers on Wall Street in 2011 is quite an accomplishment, given the incessant banker bashing from all sides of the political spectrum -- incl...

  8. The Biggest Wall Street Losers of 2011

    FBN’s Charlie Gasparino on Wall Street’s biggest losers of the year.

  9. Muni Market a Safe Bet?

    BlackRock Managing Director Peter Hayes weighs in on the current state of investing in the muni-bond market.

  10. Looking for Income-Producing Investments? Check Out Muni Bonds

    If you’re looking for income-producing investments, don’t overlook municipal bonds. Thanks to a rarely-seen anomaly in the fixed-income markets, as of late last week...

  11. Fixed Income Opportunities for Investors

    Janney Chief Fixed Income Strategist Guy LeBas on the opportunities for investors in municipal bonds and for overseas bonds.

  12. Fears About Euro-Zone Holdings Trigger Wild Swings in Jefferies Stock

    Battling market fears that its exposure to European sovereign debt could place it in a similar boat as now-bankrupt MF Global , shares of investment bank Jefferies (...

  1. Gasparino: Whitney Not Thinking of Opening Ratings Agency

    FBN's Charlie Gasparino says analyst Meredith Whitney is no longer considering opening a ratings agency.

  2. How Will DOJ Prove Its Case Against S&P?

    FBN’s Charlie Gasparino on the Dept. of Justice’s lawsuit against S&P.

  3. Muni Mutual Funds See $2.3 Billion Outflow

    Investors bailing out of muni-bond funds and muni exchange-traded funds reached a nearly two-year high, with net outflows of $2.3 billion during the week ended Wedne...

  4. Municipal Bond Defaults Trending Down

    FBN’s Charlie Gasparino on the state of municipal bonds across the country.

  5. Making Smart Election Investments

    FBN’s Charlie Gasparino on making smart investments to bolster your portfolio, regardless of who wins the election this year.

  6. Building An Election Portfolio

    As if investing in a post-financial-collapse world isn't hard enough, consider the latest worry the markets will have to deal with in the coming weeks: The outcome o...

  7. Are City Budgets Putting Municipal Bonds at Risk?

    FBN’s Gerri Willis on the mounting debt of cities across the country and their impact on municipal bonds.

‹ Prev12345Next ›
Freebase CC-BY
Source: Meredith Whitney on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL