Muni Tobacco Bonds See Historic Default Amid Falling Smoking Rates

Long Beach, New York, a barrier island city located 25 miles east of New York City with a population of 34,000, has gained notoriety for both its vibrant local culture and its financial struggles. Known for its lively West End bars, the annual Irish Day parade, and a two-mile boardwalk, the city has also become infamous for fiscal mismanagement. This dual reputation was highlighted on Friday, April 23, 2021, when images of its commercial and residential buildings underscored the stark contrast between its scenic appeal and its economic challenges. Photographer: Johnny Milano/Bloomberg

Source: Bloomberg Generated at: 2026-06-04 18:58:27 UTC