Alabama county files biggest municipal bankruptcy -

[LazyBoy]

With more than $5 billion in total indebtedness, the Chapter 9 filing on Wednesday surpassed that filed by Orange County California, in 1994.

http://www.reuters.com/article/2011/...7A94CP20111110

[makimanos]

Re: Alabama county files biggest municipal bankruptcy -

JPM the new Lehman?

[dcarrigg]

Re: Alabama county files biggest municipal bankruptcy -

http://www.reuters.com/article/2011/...7A94CP20111110

This has been coming for a while now. Matt Taibbi wrote about how Goldman orchestrated this. Here's the official bankruptcy. It was baked in. It's criminal. And again - nobody will go to jail.

[lektrode]

Re: Alabama county files biggest municipal bankruptcy -

and then we got this one, narrowly/temporarily averted, for now:
http://www.bloomberg.com/news/2010-0...state-aid.html

whos next is the question...