Despite a renewed call to stop repayment of state moral obligation bonds issued for the now-bankrupt 38 Studios LLC, Fitch Ratings Inc. expects payments will continue and has reaffirmed an AA rating with a stable outlook for the state’s general obligation bonds and consolidated capital development loans.
If Rhode Island taxpayers are repaying a debt secured under fraudulent representation, should they keep paying?
The recent disclosure that the Securities and Exchange Commission has filed charges against the state's economic-development …
Did the decision by the Securities and Exchange Commission to file fraud charges against the former R.I. Economic Development Corp. and Wells Fargo Securities over the 2010 bond offering for 38 Studios change your mind on whether the bonds should be paid back? Should the state pay back bondholders?
R.I. Taxpayers is no longer. The association, which said it advocated for “honest, effective and fiscally sound government on behalf of individual and business taxpayers” and published a newsletter called Taxpayer Times five days a week, stopped operations on Thursday.
(Updated, 5:12 p.m.)
The Securities and Exchange Commission on Monday filed charges against the R.I. Economic Development Corp. and its bond underwriter Wells Fargo Securities, alleging fraud that stems from a 2010 municipal bond offering to finance the now-defunct video game company 38 Studios LLC.