Public Financing at the State and Local Level

I think this is an important article to read:

Nolan, Kelly, 2011. A deep freeze hits muni-bond market. The Wall Street Journal, Mar. 9.

For some time, I have been concerned about the condition of local financing. This issue does not get enough attention. It represents an echo financial crisis. The weak market for municipal bonds on the supply side reflects the poor economic conditions of many cities and states.

Interested readers should refer to the following post:

Echo Crisis in State and Local Government Financing

In 2009, I did extensive research into the financing of Community Development Corporations involving construction projects. I think there is little understanding in this area.