Shows
HilltopTalks: Politics & Finance with Tom Kozlik35. Scott McIntyre, HilltopSecurities Asset ManagementIn the latest episode of HilltopTalks, HilltopSecurities’ Tom Kozlik sits down with Scott McIntyre, Co-Head of Investment Management for HilltopSecurities Asset Management, to examine growing political pressure on the Federal Reserve—and why the perception of independence matters just as much as policy itself.As scrutiny intensifies around the Fed’s decision-making, credibility, leadership, and institutional guardrails are increasingly in focus.In this conversation, Tom and Scott discuss:Why threats to Fed independence are being taken seriously by marketsChairman Powell’s recent response—and why it reassured investorsHistorical examples of political pressure on the Fed, from...
2026-01-2925 minHilltopTalks: Politics & Finance with Tom Kozlik34. Tom Aaron, Vice President, Moody's Investor ServicePensions Look Stronger on Paper. The Risk Just Moved.Discount rate assumptions are changing, liabilities are falling—and yet the underlying risks haven’t disappeared. They’ve just shifted.In this episode, HilltopSecurities’ Tom Kozlik sits down with Moody’s Tom Aaron to unpack what public finance leaders need to understand about today’s pension landscape.🔎 Topics include: • Why rising discount rates can mask long-term vulnerabilities • How market volatility is reshaping pension risk exposure • The importance of discipline during periods of perceived strength • What Moody’s is watching as we enter 2026👉 Don’t m...
2026-01-0627 minHilltopTalks: Politics & Finance with Tom Kozlik33. 2025 Public Finance Leaders Survey🎧 New on the HilltopTalks podcast!Yaffa Rattner, Head of Municipal Credit, and Tom Kozlik, Head of Public Policy & Municipal Strategy, unpack the findings of the HilltopSecurities 2025 Public Finance Leaders Survey—a pulse check on what over 1,000 leaders across the U.S. are prioritizing right now.💡 What you’ll hear:• Why budget pressure and labor shortages top the list• How leaders are approaching AI, cybersecurity, and ESG• A surprising perspective on crypto, climate risk, and infrastructure planning• What decision-makers say they need more support with in 2025Listen in as Yaffa and Tom connect the survey...
2025-09-231h 00HilltopTalks: Politics & Finance with Tom Kozlik32. Terence Smith, Chairman & CEO Smith's Research & GradingsTom Kozlik hosts the 32nd episode of the HilltopTalks podcast, welcoming Terry Smith, Energy Sector Lead for the American Society of Civil Engineers’ 2025 National Infrastructure Report Card and Chairman & CEO of Smith’s Research & Gradings. Together, they explore the current state of U.S. infrastructure, what the latest report card reveals, and why municipal bonds remain a critical tool in closing the nation’s $3.7 trillion infrastructure funding gap.
2025-05-1228 minHilltopTalks: Politics & Finance with Tom Kozlik31. Bryn McQuaid, Loren Wims, Tom Tedesco, & Ritonya WilkinsTom Kozlik kicks off the new year with a new episode of HilltopTalks! This episode features an insightful discussion on surety bonds for public entities and how they protect taxpayer dollars. Kozlik is joined by a panel of experts:Ritonya Wilkins – Public Entities Insurance Planning Consultant, HilltopSecurities InsuranceLoren Wims – Senior Client Executive, OneDigitalBryn McQuaid – Account Executive, P&C, OneDigital Tom Tedesco – Account Executive Director, Travelers
2025-02-1021 minHilltopTalks: Politics & Finance with Tom Kozlik30. Chris Iacovella, President & CEO, American Securities AssociationIn the 30th episode of HilltopTalks, Tom Kozlik, Head of Public Policy and Municipal Strategy at HilltopSecurities, is joined by Chris Iacovella, CEO of the American Securities Association, to break down the political and economic landscape following the 2024 elections.The pair discuss energy production, tax reform, infrastructure, and regulatory changes, along with the broader implications for businesses, policymakers, and the municipal bond market.
2024-12-3025 minHilltopTalks: Politics & Finance with Tom Kozlik29. Kris Johnson, HilltopSecurities, Head of FICM Financial StrategiesIn the latest episode of HilltopTalks, Tom Kozlik is joined by Kris Johnson, Senior Vice President, Financial Strategies Team, at HilltopSecurities. Together they discuss the 2025 economic outlook, including recent interest rate cuts and market volatility, as well as the implications of the "red wave" election and its potential impact on regulatory policies, mergers, and acquisitions.
2024-12-1923 minHilltopTalks: Politics & Finance with Tom Kozlik28. Nathan Bomey, Business Reporter, AxiosTom Kozlik returns with the 28th episode of the HilltopTalks podcast. In this session, Tom is joined by Nathan Bomey, Documentary Producer of "Gradually, Then Suddenly: The Bankruptcy of Detroit" and Author of "Detroit Resurrected: To Bankruptcy and Back." They discuss how the city of Detroit confronted the historic bankruptcy toward a new beginning.
2024-11-1443 minHilltopTalks: Politics & Finance with Tom Kozlik27. Jeff Previdi, Vice Chair, Governmental Accounting Standards Board (GASB)Tom Kozlik is back with another episode of the HilltopTalks podcast. In this session, Tom is joined by Jeff Previdi, Vice Chair of the Governmental Accounting Standards Board (GASB). The two discuss the Financial Data Transparency Act and GASB's most recent projects -- the Infrastructure Assets project and the Going Concern Uncertainties and Severe Financial Stress project.
2024-08-0537 minHilltopTalks: Politics & Finance with Tom Kozlik26. Kris Johnson, Head of FICM Financial Strategies, HilltopSecuritiesHilltopSecurities' Tom Kozlik is back with another episode of the HilltopTalks podcast. In this session, he is joined by HilltopSecurities Head of FICM Financial Strategies Kris Johnson. The two shed light on what banks are doing on the investment side and the ever changing landscape of depository institutions today.
2024-07-0823 minHilltopTalks: Politics & Finance with Tom Kozlik25. Les Richmond, Build America Mutual, & Thomas Aaron, Moody'sHilltopSecurities' Tom Kozlik is back with another episode of the HilltopTalks podcast. He is joined by Les Richmond, Vice President and Actuary at Build America Mutual and Thomas Aaron, Vice President and Senior Credit Officer at Moody's. The three discuss the status of U.S. public pensions.
2024-06-0454 minHilltopTalks: Politics & Finance with Tom Kozlik24. Chris Iacovella, American Securities AssociationHilltopSecurities' Tom Kozlik, Head of Public Policy & Municipal Strategy, is back with another episode of the HilltopTalks podcast. He is joined by Chris Iacovella, President & CEO of American Securities Association. The two discuss the ins and outs of Washington D.C., specifically the legislative side and how D.C. is approaching this new age of digital and cybersecurity.
2024-04-2222 minHilltopTalks: Politics & Finance with Tom Kozlik23. Brett Bolton, Bond Dealers of AmericaHilltopSecurities’ Tom Kozlik is joined by Brett Bolton, Head of Government and Industry Relations at Bond Dealers of America, for a new HilltopTalks podcast episode. In this session, the two discuss the 2024 Presidential election political landscape and the tax-exemption threat.
2024-02-2921 minHilltopTalks: Politics & Finance with Tom Kozlik22. Philip Villaluz, HilltopSecuritiesHilltopSecurities’ Tom Kozlik and Philip Villaluz are kicking off 2024 with a new HilltopTalks podcast episode. In this session, the two review HilltopSecurities’ 2024 Municipal Bond Market Sector Outlooks, discussing some of the big picture and sector-specific themes that came out of the 2024 sector outlook piece.
2024-02-0723 minHilltopTalks: Politics & Finance with Tom Kozlik21. Omid Rahmani, Fitch RatingsTo close out 2023, HilltopSecurities' Tom Kozlik is back with another episode of HilltopTalks. Omid Rahmani, Associate Director of US Public Finance and Cyber Risk at Fitch Ratings, returns to the podcast to discuss the rise of havoc-based cyberattacks on U.S. infrastructure.
2023-12-2831 min
The Multifamily 5 PodcastEp. 72 - Affordable Housing and PFCsAffordable Housing and PFCs
On today's episode I'm speaking with Tim Nelson and Braxton Parsons of HilltopSecurities, who represent Public Finance Corporations (PFCs). Tim and Braxton are like Brokers between PFCs and experienced sponsors/developers. In this episode we cover PFCs at a high level, deal qualification criteria, how PFCs affect a sale of a multifamily property, and current legislation.
If you would like to get in touch with Hilltop, please reach out to Tim at tim.nelson@hilltopsecurities.com
2023-05-0221 min
Octus RadioReorg Primary View: 2022 Recap, Muni High Yield Hot Spots and Expectations for 2023In this episode of The Reorg Primary View, Seth Brumby, Deputy Managing Editor of Reorg’s municipals coverage talks with Yaffa Rattner, Senior Managing Director and Head of Municipal Credit at HilltopSecurities. Topics range from a reflection on 2022, a discussion of HilltopSecurities’s High Yield Municipal Survey, and expectations for 2023.
We're looking for feedback to improve the podcast experience! Please share your thoughts here: www.research.net/r/Reorg_podcast_survey
#highyield #highyieldbonds #municipals
2023-01-1716 minHilltopTalks: Politics & Finance with Tom Kozlik20. Tom Aaron, Moody’s Investors ServiceThe HilltopTalks Podcast is back! Episode #20 features HilltopSecurities Head of Municipal Research & Analytics, Tom Kozlik, and Senior Credit Officer of Moody’s Investors Service, Tom Aaron, as they discuss important topics surrounding pensions and how they are still a risk for many finance credit profiles.
2022-09-1637 minHilltopTalks: Politics & Finance with Tom Kozlik19. Richard Ciccarone, Merritt Research ServicesHilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Richard Ciccarone, President, Merritt Research Services in episode 19 of HilltopTalks. We discuss how the restructuring of city life and remote work impacts commercial real estate.
2022-03-2227 minHilltopTalks: Politics & Finance with Tom Kozlik18. Geoffrey Buswick, S&P Global RatingsHilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Geoffrey Buswick, Managing Director, S&P Global Ratings in episode 18 of HilltopTalks. We discuss how global cyber security, inflation rates, and pensions are affecting public finance.
2022-03-1032 minHilltopTalks: Politics & Finance with Tom Kozlik17. Omid Rahmani, Fitch RatingsHilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Omid Rahmani, Associate Director: US Public Finance at Fitch Ratings in episode 17 of HilltopTalks. We discuss how the use of cyber-attacks as geo-political weapons pose a threat to public finance.
2022-02-2537 minHilltopTalks: Politics & Finance with Tom Kozlik16. James Morris, Investortools, Inc.HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with James Morris, senior vice president at Investortools, Inc., in episode 16 of HilltopTalks. We discuss how municipal investors streamline trading workflows with the Investortools' dealer network.
2022-02-2527 minHilltopTalks: Politics & Finance with Tom Kozlik15. Amanda Kass, Government Finance Research CenterHilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Amanda Kass, Associate Director of the Government Finance Research Center at UIC in episode 15 of HilltopTalks. We discuss how state and local governments have spent CARES (2020) & Rescue Plan Act (2021) dollars.
2022-02-2530 minHilltopTalks: Politics & Finance with Tom Kozlik14. Omid Rahmani, Fitch RatingsHilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Omid Rahmani, Associate Director: US Public Finance at Fitch Ratings in episode 14 of HilltopTalks. We discuss the basics of cybersecurity and how cyberattacks pose a threat to public finance.
2022-02-2538 minHilltopTalks: Politics & Finance with Tom Kozlik13. Brett Bolton, Bond Dealers of AmericaHilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Brett Bolton, Vice President for Formal Legislative and Regulatory Policy at Bond Dealers of America in episode 13 of HilltopTalks. As Congress averted a federal government shutdown, can they pass infrastructure legislation and extend the debt ceiling, too?
2021-10-0524 minHilltopTalks: Politics & Finance with Tom Kozlik12. Amanda Kass, Government Finance Research CenterExploring Chicago Budget Challenges, Police Funding, and Federal Relief Spending
HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Amanda Kass, Associate Director, Government Finance Research Center, on Chicago budget challenges, police funding, and federal relief spending.
2021-09-0723 minHilltopTalks: Politics & Finance with Tom Kozlik11. Arlene Bohner, Fitch RatingsHow Fitch Approaches the COVID-19 Crisis and Incorporates ESG Into Its Ratings
HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Arlene Bohner, Head of U.S. Public Finance at Fitch Ratings, to discuss what the public finance sector is most at risk from in terms of the COVID-19 Delta variant, and how Fitch is approaching ESG.
2021-09-0730 minHilltopTalks: Politics & Finance with Tom Kozlik10. Lori Trevino, Moody’s Investors ServiceHow Local Governments Are Managing the New Arizona Flat Tax, Wildfires in Calif., and COVID-19
HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Lori Trevino, AVP, Public Finance Ratings Analyst at Moody’s Investors Service to discuss the economic impact that governments might be facing with a fourth wave of the COVID-19 pandemic.
2021-09-0732 minHilltopTalks: Politics & Finance with Tom Kozlik09. Charles Seville, Fitch RatingsFitch Ratings Questions U.S. Governance, Identifies a Breakdown in Political Norms
HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik sits down with Charles Seville, senior director, sovereign ratings at Fitch Ratings to discuss how Fitch Ratings questions U.S. governance and identifies a breakdown in political norms.
2021-09-0724 minHilltopTalks: Politics & Finance with Tom Kozlik08. Chris Iacovella, American Securities AssociationWhat’s the Potential for D.C. Lawmakers to Deliver on Infrastructure?
HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Chris Iacovella, CEO of the American Securities Association, to discuss the potential for D.C. lawmakers to deliver on infrastructure in 2021.
2021-09-0728 minHilltopTalks: Politics & Finance with Tom Kozlik07. Lucy Dadayan, Urban-Brookings Tax Policy CenterU.S. State Revenue Update: The Good and the Bad
HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Lucy Dadayan, Senior Research Associate, Urban-Brookings Tax Policy Center, to discuss an update on the U.S. state revenue.
2021-09-0728 minHilltopTalks: Politics & Finance with Tom Kozlik06. Nicholas Samuel, Moody's Investors ServiceHow ESG Criteria Impacts Texas and New York City
HilltopSecurities Head of Municipal Research & Analytics Tom Kozlik speaks with Nicholas Samuel, VP and Senior Credit Officer, Manager, for the States and High-Profile Ratings Team at Moody's Investors Service, to discuss ESG criteria and how these factors impact Texas and New York City.
2021-09-0728 minHilltopTalks: Politics & Finance with Tom Kozlik05. Ksenia Koban, Payden & RygelThe Importance of Sustainable Investing in Municipal Bonds
Tom Kozlik speaks with Ksenia Koban, co-chair of Payden & Rygel’s ESG committee about the importance of sustainable investing in municipal bonds.
2021-09-0731 minHilltopTalks: Politics & Finance with Tom Kozlik04. Nora Wittstruck, S&P GlobalS&P Global on How They Approach Emerging ESG Themes in U.S. Public Finance
Tom Kozlik speaks with Director and ESG Lead for U.S. Public Finance at S&P Global Nora Wittstruck to discuss how S&P Global approaches emerging ESG themes in U.S. Public Finance.
2021-09-0728 minHilltopTalks: Politics & Finance with Tom Kozlik03. Gabe Petek, Legislative Analysts's OfficeTom Kozlik Municipal Commentary- A Boom Is Coming. Are Governments Ready?https://www.hilltopsecurities.com/media/4732/municipal-commentary_5721-v2.pdf Gabe Petek Commentary- A Framework for Allocating Federal Recovery Fundshttps://lao.ca.gov/Publications/Report/4422?utm_source=t.co&utm_medium=referral&utm_campaign=4422
2021-09-0715 minHilltopTalks: Politics & Finance with Tom Kozlik02. Dan White, Moody's AnalyticsStress Testing U.S. State Budgets One Year After COVID-19
HilltopSecurities Head of Municipal Credit & Strategy Tom Kozlik sits down Moody’s Analytics Director Dan White to discuss stress testing U.S. state budgets one year after COVID19.
2021-09-0715 minHilltopTalks: Politics & Finance with Tom Kozlik01. Eric Kazatsky, Bloomberg IntelligenceMunicipal Demand, Potential State and Local Relief, and the Threat of Another COVID Spike
HilltopSecurities Head of Municipal Credit & Strategy Tom Kozlik sits down with Bloomberg Intelligence’s Head of Municipal Strategy Eric Kazatsky to discuss the supply and demand dynamic, the future of COVID-19, the threat to tax exemption, deficit reduction efforts and more.
2021-09-0730 min