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Government/Regulation

News

Covered-Bond Legislation Introduced

Rep. Scott Garrett (R-N.J.) introduced the U.S. Covered Bond Act today, with support from Reps. Paul Kanjorski (D-Pa.) and Spencer Bachus (R-Ala.) as co-sponsors. The legislation aims to help facilitate a robust covered bond market in the U.S.

Meet the MBS Industry's New Nemesis

He's not a state attorney general, but David Grais may soon become the lawyer that Wall Street hates most. His New York firm, Grais & Ellsworth, is behind several of the most prominent investor lawsuits against securities dealers over mortgage-backed bonds issued during the boom years that have since soured.

Morgan Keegan Forms New I-Banking Division

In an effort to centralize its existing equity and fixed-income investment banking operations and increase its overall revenue and market share, Morgan Keegan & Co. has announced the formation of a new, broader investment banking division to be headed by 31-year company veteran Robert Baird.

Dodd Releases Details of Reform Bill

Senate Banking Committee Chairman Chris Dodd on Monday released a broad outline of his regulatory reform bill, which heavily reflects input from Republicans who still say they oppose the bill.

Firefly Energy to Submit Chapter 7 Filing

Lead-acid battery technology developer Firefly Energy Inc. will soon file for Chapter 7 bankruptcy. The Peoria, Ill.-based company was founded in May 2003 as a spin-off of Caterpillar.

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Articles

Muni Holdings Beef Up

State and local governments amassed their biggest-ever debt burden during the fourth quarter, meeting demand from retail buyers and a broadened investor base driven by federal stimulus programs.

Wall and Main Streets Talk Past Each Other

Two groups gathered in the San Francisco Bay Area this week to discuss municipal bonds, public budgets and interest rate swaps.

Banking on a Growing Deficit

New broker-dealer Pierpont brings together a trio that has worked on and off together for the better part of three decades.

Yields Decline a Bit as Firmness Creeps In

Most of The Bond Buyer’s weekly yield indexes declined slightly, as some firmness continued to permeate a mostly unchanged municipal market.

Transit Advocates Address Panel

A high-level Department of Transportation official told lawmakers that the Obama administration will support “ambitious local initiatives” for large-scale projects, such as a 12-line transit project in Los Angeles.

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