Tag Archives: municipal finance

Detroit – the decision

Largest municipal bankruptcy yet announced today:

http://nyti.ms/1bM3VGF

NYTimes: Detroit Goes Bankrupt, the Largest City to Do So in U.S.

“The decision by the city, the cradle of America’s automobile industry and once the nation’s fourth-most populous, also marks the largest municipal bankruptcy filing in American history in terms of debt.”

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Municipal bankruptcy news

Jefferson County, Alabama recently declared bankruptcy, in the largest US municipal bankruptcy to date. Harrisburg, Pennsylvania has also sought bankruptcy this year although just a few days ago (thanks, Kenyatta) the U.S. Bankruptcy Court denied its filing. In both cases, infrastructure investment was one of the factors involved (sewer system in Jefferson County, incinerator in Harrisburg).  Here is a useful “explainer” from Stateline.org on what is actually entailed when a local government goes bankrupt.

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Filed under public finance

Municipal bankruptcy news

Jefferson County, Alabama recently declared bankruptcy, in the largest US municipal bankruptcy to date. Harrisburg, Pennsylvania has also sought bankruptcy this year although just a few days ago the U.S. Bankruptcy Court denied its filing. In both cases, infrastructure investment was one of the factors involved (sewer system in Jefferson County, incinerator in Harrisburg).  Here is a useful “explainer” from Stateline.org on what is actually entailed when a local government goes bankrupt.

Comments Off on Municipal bankruptcy news

Filed under public finance