- Quick Request: For those of you who receive the newsletter in Outlook, please select the View As Web Page option prior to reading the publication. In keeping with our form-over-substance policy, we put considerable effort into creating a nicely-formatted publication, which Microsoft has utterly defaced. In keeping with our penchant for grandiosity and paranoia, we believe this to be a result of a personal vendetta on the part of Mr. Gates.
- Many U.S. Muni Bond Issuers, Underwriters Report Rule Violations – SEC.
- Issuers Head to the MCDC Wire.
- Dirty Deals: How Wall Street’s Predatory Deals Hurt Taxpayers and What We Can Do About It.
- WSJ: Small Towns Go to Bat for Wall Street Banks.
- GASB Issues Preliminary Views on Lease Accounting for State and Local Governments.
- GASB Issues Preliminary Views on Reporting Governments’ Fiduciary Responsibilities.
- Lifespan Corp. v. National Union Fire Ins. Co. of Pittsburgh, Pa. – After hospital and state AG obtain judgment against corporate parent for $29 million stemming from breaches of fiduciary duties and gross negligence in connection with revenue bond refi interest rate swap, parent sues its D&O insurers for indemnification and the District Court rules in favor of parent, finding that the Securities Exclusion of the D&O policy was inapplicable as the swap was not a “security.”
- And finally, things we learned this week include: the going rate for amputating a student’s leg with a school bus is $500k; considerable paperwork results when police officers “consume alcohol after lawful hours while armed in a crowded restaurant prior to engaging in an uncontrolled brawl” and; entering into a questionable interest rate swap in order to suck up to your broker in the hope that he’ll let you join his wine club will inevitably end in tears.
