Stockton, California, to File for Bankruptcy Protection - Bloomberg: "Municipal bankruptcies in the U.S., while still rare compared to corporate filings, became more common after the housing and financial crisis began. Ten of 42 cases filed since 1981 came in the past four years, according to court records.
The biggest municipal bankruptcy was filed last year by Jefferson County, Alabama, which is trying to restructure $4.2 billion in debt, most of which is tied to sewer bond deals tainted by corruption."
'via Blog this'
The biggest municipal bankruptcy was filed last year by Jefferson County, Alabama, which is trying to restructure $4.2 billion in debt, most of which is tied to sewer bond deals tainted by corruption."
'via Blog this'
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