'biggest U.S. muni bankruptcy'

Discussion in 'Economics' started by Wallace, May 7, 2013.

  1. 'Judge may set workout deadline in biggest U.S. muni bankruptcy'
    by Michael Connor Tue May 7, 2013

    "(Reuters) - Alabama's Jefferson County will brief a federal judge on Thursday on
    its progress toward exiting from bankruptcy, as the county appears likely to become
    the first big U.S. local government to impose losses on bondholders since the 1930s.
    The case is seen as a testing ground for how bondholders fare when a local issuer
    breaks under excessive financial pressure. Jefferson County's $4.2 billion
    bankruptcy filing is the largest such municipal case in history, the result of debts
    taken on in a costly overhaul of the county's sewer system."
  2. Bob111


    :confused: :confused: :confused:

    it's sounds like some of the holders will be out unscratched-
    while rest of them(retail and others) might be f***d. business as usual.
  3. S2007S


    Stocks and wallstreet don't care for this news as markets touch historical highs yet again!
  4. there are a lot of things the market doesn't care about until it cares about it.