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but has also helped municipal finances. Ratings trends have improved as a result of both stable revenue and spending discipline, with upgrades in the Moody’s universe seeing a notable uptick in last year’s third quarter (see Exhibit 84). Of course, underfunded long-term pension liabilities remain a source
Page: HOUSE_OVERSIGHT_014602 →g Power,” Academy of Political Science, 1934. Alvin H. Hansen, “Economic Progress and Declining Population Growth,” American Economic Review, 1939. Lawrence H. Summers, “Remarks,” speech delivered at he Fourteenth Jacques Polak nternational Monetary Fund Annual Research Conference, Washington, D.C., November 8, 2013
Page: HOUSE_OVERSIGHT_014614 →J.P. Morgan Eye on the Market, April 9, 2012
F, Goldman Sachs, J.P. Morgan Private Bank Affordable Care Act 0.2% Source: CBO, Goldman Sachs What direction is the Congress heading, and what did Larry Summers and Brad DeLong have to say about this recently? Political outcomes this fall will affect what Congress does, but I get the sense that they will punt
Page: HOUSE_OVERSIGHT_025236 →Mark Twain, is that reports of municipal bonds’ demise have been greatly exaggerated. From 1970 through to the end of 2011, municipal bonds rated by Moody’s experienced a grand total of 71 defaults among 17,700 issuers (11 of which occurred during 2010 and 2011). General obligation bonds accounted for 5 d
Page: HOUSE_OVERSIGHT_025238 →Microsoft Word - 04-09-2012 - EOTM - The Day of the Triffids.docx
Goldman Sachs, J.P. Morgan Private Bank. Affordable Care Act 0.2% Source: CBO, Goldman Sachs. What direction is the Congress heading, and what did Larry Summers and Brad DeLong have to say about this recently? Political outcomes this fall will affect what Congress does, but I get the sense that they will punt
Page: HOUSE_OVERSIGHT_025243 →Mark Twain, is that reports of municipal bonds’ demise have been greatly exaggerated. From 1970 through to the end of 2011, municipal bonds rated by Moody’s experienced a grand total of 71 defaults among 17,700 issuers (11 of which occurred during 2010 and 2011). General obligation bonds accounted for 5 d
Page: HOUSE_OVERSIGHT_025245 →Entities connected to both Larry Summers and Moody’s

Marc Rich
PERSON
John F. Kennedy
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Harry Reid
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Bill Clinton
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Donald Trump
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Barack Obama
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George W. Bush
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United States
LOCATIONMartin Weinberg
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Oliver Stone
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Kazakhstan
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JPMorgan Chase
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Ronald Reagan
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Middle East
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Philippines
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Puerto Rico
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Cynthia Nixon
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Michael Bloomberg
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Atlanta
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Houston
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