Thursday, November 10, 2011

Alabama's Jefferson county files bankruptcy

http://news.yahoo.com/alabama-county-seeks-file-biggest-municipal-bankruptcy-001117903.html

Jefferson county files for bankruptcy for one of the biggest deficits in the country, 3.4 billion.
Their debt escalated in the 2000's when their system was hit with a lot of fraud and corruption.


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2 comments:

  1. J.Powers66November 10, 2011 at 6:13 AM

    http://online.wsj.com/article/SB10001424052970204224604577028491526654090.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsForth

    Here is the Wall Street Journal's article on the largest municipal bankruptcy in US history.

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  2. GIFT MNovember 10, 2011 at 7:01 AM

    I was about to blog about this but my computer is having problems loading the blog. After reading the article and one by IMF and the Lost Decade being linked to the Euro Crisis i wondered if the deteriorating state of US economy can also contribute to the lost decade.

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