Tag "Assured Guaranty"

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Bankruptcy no panacea for pensions

Aug. 20, 2012 By Steven Greenhut SACRAMENTO – Municipal bonds have long been among the safest investments, but a coming wave of municipal bankruptcies in California — and the disturbing way one of those cities is stiffing its bondholders —

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CalPERS reveals its true colors

Steven Greenhut: When the California Public Employees’ Retirement System — the nation’s largest retirement system, albeit one plagued by scandal — was pushing for massive retroactive pension increases for California government employees in 1999, the system released a report that,

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