{"id":1355,"date":"2013-12-07T11:51:24","date_gmt":"2013-12-07T11:51:24","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/12\/puerto_rico_reportedly_among_t"},"modified":"2022-03-11T08:54:45","modified_gmt":"2022-03-11T14:54:45","slug":"puerto-rico-reportedly-among-t","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/puerto-rico-reportedly-among-t\/","title":{"rendered":"Puerto Rico Reportedly Among Those that Engaged in “Scoop & Toss” Tactic with Municipal Bonds"},"content":{"rendered":"

\t\t\t\tAccording to The Wall Street Journal<\/em>, Puerto Rico <\/a>has been engaging in a budget-stretching maneuver, known as the “scoop & toss” for some time now. The tactic, which has been employed by financially strapped local governments, including states, municipalities and other entities for years, is now under closer examination.<\/p>\n

Scoop and toss consists of selling new long-term debt to raise money to pay off bonds that are maturing. This lengthens the timetable for municipal bonds that are retiring. Such debt sales frequently provide interest rates that are above market. Many bond buyers can find this attractive, especially when the economy is growing slowly and rates on other bonds are low.<\/p>\n

Now, however, observers are cautioning that refinancings using the scoop and toss approach is increasing interest costs and letting civic managers ignore structural economic problems. Meantime, the debt buyers end up taking on the risk that the securities could lose their worth. Critics of the scoop and toss describe it as a short-term solution and not a permanent one.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to The Wall Street Journal, Puerto Rico has been engaging in a budget-stretching maneuver, known as the “scoop & toss” for some time now. The tactic, which has been employed by financially strapped local governments, including states, municipalities and other entities for years, is now under closer examination. Scoop and toss consists of selling […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3922,4039],"tags":[],"class_list":["post-1355","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds","category-puerto-rico-bond-funds"],"yoast_head":"\nPuerto Rico Reportedly Among Those that Engaged in "Scoop & Toss" Tactic with Municipal Bonds — Investor Lawyers Blog — December 7, 2013<\/title>\n<meta name=\"description\" content=\"According to The Wall Street Journal, Puerto Rico has been engaging in a budget-stretching maneuver, known as the "scoop & toss" for some time now. — December 7, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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