Page 2 - State Bonds News Today

To win those contracts some bond contractors threw money at incumbents. one of these pay to play scandals involved the governor of new jersey back in 1993, jim florio, his chief of staff also ran, you guess it, a bond business. so a year later in 1994 the s.e.c. issued tough new rules to clamp down on corruption. bond dealers and any of their employees working to secure government bond deals now had a cap. ranging no higher than $250 on how much they could donate in races where the winner could ...

Budget repair bill must be approved by friday in order for the state to be able to refinance state bonds, a very critical part of trying to take on their budget deficit. their budget shortfall. in terms of whats going on today, a few changes. the state senate and state assembly are scheduled to be back in session here. the state senate, all eyes on that as they could not have a vote as they dont have enough voting members. and teachers are being told to go back to the classroom after several day...

Ratcheting up the pressure here is the fact that walkers administration says that a key provision of his budget bill, if it is not passed by friday the state may not be able to refinance state bonds and they say that could only make things worse here in wisconsin. well, bus loads of union workers arrived moments ago. some are out here on the steps. others inside the state capitol here in columbus, ohio. the republican sponsoring this bill says the state is out of money. there is a billion doll...

Message to any creditors of any states if they hear theres any sort of discussion about whether states will be able to file bankruptcy whether theres legislation on capitol hill or whatever. who is going to pick up any credit of the states if they think bankruptcy is coming? >> absolutely. one of the main reasons that munis -- municipal and state bonds sell they are considered safe. the state of california has never defaulted on a , ever. as soon as noise starts coming like bankruptcy, maybe the...

Does -- it sends a terrible message to any creditors of any states if they hear theres any sort of discussion about whether states will be able to file bankruptcy whether theres legislation on capitol hill or whatever. who is going to pick up any credit of the states if they think bankruptcy is coming? >> absolutely. one of the main reasons that munis -- municipal and state bonds sell they are considered safe. the state of california has never defaulted on a , ever. as soon as noise starts comin...

It could affect investors in state bonds. but supporters of bankruptcy options say this is more than just a budget problem. some states have really, really revere problems that are sucking up money for education and health care. supporters also warn that it could be a matter of time before states look for federal bailout. with us now financial consultant the author of "master your debt," live with us this afternoon. jordan, good to see you. there are no good openings but if you change this thing...

Its just misallocated. the average teacher retires on a pension of 60 or $70,000 a year. the net present value is $2 million. i ask the viewers of the show, do you have $2 million in your 401(k) plan? probably not. the mention payments are lavish. theyre preventing us if hiring young talented people who want to teach. >> david: e-mac, its the 3 million hours spent on nothing but the union activities. the tax dollars are paying for union, not for the real work in the classroom. >> that is right. ...