Here are several examples of rising default risk:
Detroit Mayor Plans to Halt Garbage Pickup, Police Patrols in 20% of City; Expect Bankruptcy, Massive Municipal Bond Turmoil in 2011
Miami Commissioner Says Bankruptcy is City's Best Hope; Chris Christie Says New Jersey Careens Towards Becoming Greece
Oakland California Bankrupt - Councilwoman Pat Kernighan Calls Rest of Council "Crazy and Irresponsible"
L.A. Controller Says City Could Run Out of Cash by May 5
Chicago's Mayor Daley Discusses Bankruptcy For City Pensions
All it takes is one brave municipality to lead the way and others will follow. When that happens, the baby will likely be thrown out with then bathwater. There is no reason to like Munis here.
Join us on our
Share this page with your friends
on your favorite social network: