Since bonds without government guarantees would likely have been less attractive to outside investors, the Cardinals group circumvented the public bond markets altogether by buying the bonds themselves.
Returning the ailing public finance bond insurance market to health has been a priority of state insurance regulators, led by New York state's Eric Dinallo, whose office took credit Wednesday for splitting MBIA in two.
Because SMEs were effectively locked out of both the public equity and bond markets, most turned to the commercial banks, which were, by far, the largest providers of capital during that period.
Frankly, I think the chances of the public suddenly abandoning their bond funds, those very same bond funds that have treated them much more kindly than the stock market did over the past decade, is pure folly.
The water company Severn Trent is raising money by offering an inflation-linked corporate bond to the public, rather than to professional investors.
Investment bankers say that some Japanese companies are so worried about rising public debt leading to a bond-market crash or to inflation (how else to get rid of debts of this size except by printing money?) that they are trying to shrink their domestic operations and expand their foreign ones.
"We hope this will help reinvigorate the municipal bond market and help public entities get easier, less costly access to credit, " Dinallo said Wednesday.
The disruption has caused a backlog of mail estimated to be between four (says Royal Mail) and 20 million (says union) pieces, and it's the latest fracture in the bond between postie and public.
Italy adopted economic and public-finance reforms only under heavy bond-market pressure.
Netting off the cash the government has set aside in case bond markets turn nasty leaves public debt at 109% of GDP this year, rising to 121% by 2015.
One possible way of squaring the circle, which might appeal to supporters of a third way, is a bond issue in which the public would be invited to invest.
The challenge for MBIA and other bond insurers will be to convince the public finance sector that insurance is still necessary.
He is articulate and gets lots of air time as a public spokesman for PIMCO, one of the largest bond managers in the nation.
Others must weigh the costs of slower growth against the benefits of greater prudence, particularly the reduced risk of a sudden jump in bond yields and the prospect of lower public debt later.
That is why the government-bond yield is the appropriate measure for discounting public liabilities, as Messrs Rauh and Novy-Marx assert.
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Usually, colleges get a new bond rating when they issue new debt through public markets, and the evaluation affects already-issued debt.
Vivendi has rejected the charge, saying the decision to buy the Cegetel shares was "no more than a possibility, of which the public was perfectly aware" at the time of the bond issue.
Well they haven't gone public (yet), but I recall self-styled Bond girl Janes was driving a smart German marque.
CNN: ASIANOW - TIME Asia | Asia Buzz: It Still Isn't Very There Here
For years, the Signature bounced around, renting space from the Public Theater downtown or holing up in a black box on Bond Street and then on far, far West 42nd Street.
WSJ: Frank Gehry | Pershing Square Signature Center | By Julie V. Iovine
No one reports their bond holdings to that level of detail to the general public.
And, despite a few recent wobbles, the bond markets seem largely unconcerned about Belgium's giant public debt of close to 100% of GDP.
The charge, only the second one made against a state for its public pension disclosures, stems from a new focus on the municipal bond industry, which has historically received far less scrutiny than the private sector.
FORBES: SEC's Move Against Illinois Stems From Its New Focus On Munis
Ten years after the attack that killed her husband Michael, a bond broker on the 84th floor of Tower Two the former public schoolteacher is seeking new career opportunities.
Bond-market troubles are forcing Greece's government to freeze public-sector wages and raise taxes, and causing Portugal's and Spain's to accelerate budget cuts.
Much better would have been less regulation, more competition and a requirement that bond issuers release any information they provide to the rating agencies to the public.
ECONOMIST: Europe misfires in its attack on the rating agencies
Mutual funds tracking one of the Islamic indexes, publicly traded bond issuances and the trading of securitized bond issuances on a secondary market, and even U.S.public companies announcing their commitment to conducting their business according to the principles of Shariah are some of the more obvious examples.
These bonds tend to appeal to the general public, which also makes them aptly suited for issue by governments as a type of savings bond.
To Tokyo's many bond-market bulls, this merely underscores a broader lesson about Japan's seemingly perilous public finances.
All eyes are on the municipal bond market given the potential for higher income taxes and a growing number of defaults in the public sector.
Indeed finance officials plan to issue a new bond (which would reopen the market for emerging economies) to lengthen the maturity of the public debt.
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