Philadelphia Mayor Michael Nutter was interviewed on All Things Considered this afternoon to discuss the budget cuts. I didn’t catch all of the interview but Nutter basically explains why yesterday he called for salary cuts and service cutbacks.  It’s nothing you haven’t already read in the papers today but these national spots can have a big impact on how people view our city.  So don’t be surprised if a relative in Ohio asks you if trash is piling up in the streets. Listen to story

The second story involving Philadelphia looks at how financial problems of the Irish/German bank Depfa and others like it are having repercussions in the municpal bond market. When Philadelphia used to issue bonds to raise money for projects, people who bought them believed they were a safe bet. That changed when companies that insured these bonds started investing some of their money in sub-prime loans. Listen to story

Related story: It’s Our Money had a story on the troubled municipal bond market