Skip to comments.16 US Cities Facing Bankruptcy If They Don't Make Deep Cuts In 2011
Posted on 12/21/2010 4:17:16 PM PST by Zuben Elgenubi
2011 will be the year of the municipal default. At least that's what analysts like Meredith Whitney predict, as do bond investors that have been fleeing the muni market.
There are many reasons to be worried. First, the expiration of Build America Bonds will make it harder for cities to raise funds.
(Excerpt) Read more at businessinsider.com ...
San Diego, NYC, San Jose, CA, Cincinnati, Honolulu, San Francisco, Los Angeles, Washington DC, Newark NJ, Detroit, Reading PA, Camden NJ, Hamtramck, Mich. , Central Falls, R.I., Paterson, N.J. and Chicago IL.
Need a FReep on the comments.
Of course the first slated for the chopping block will be "essential" services.
Reminds me that I need to buy more ammo.
Watch Day of the Dead. Fending off 3000 zombies with nothing but a couple of shotguns is a lot harder than it sounds. Better have some minefields, cannons, flamethrowers and some ex-commandos while your'e at it.
I blame NAFTA. There, I’m done, and ready to whine elsewhere.
Well, hie thee to Dubai, then. I hear flats are going for a quarter of their '07 peak. And, they like you. They really, really like you.
I think LA is planning a strategic default...the unions won’t accept anything less.
Camden, NJ, Harrisburg, PA and Philadelphia PA not in this list????
Camden, NJ is on the list but not Harrisburg PA nor Philly (yet)
Drooling idiots/sheep who watch TV and ALL TV helped get the muslim elected and keep him in power. Even Al Waleed’s Fox took campaign ads and were happy election night when the messiah one.
TV keeps the idiots who watch confused and docile.
Arbitration being a last resort may become a reality just before death.
Camden, Paterson and Newark going bankrupt? I’m shocked! Shocked, I tell you!
Your tears nourish me.
Pittsburgh isn’t on the list?
This town has a huge pension liability problem and has been designated as a distressed municipality, has a kid mayor who looks mature next to the juvenile attitudes among the city council, who refuses even to address the question rejecting any solutions proposed out of hand.
2011 will be the year of the municipal default.
2012 will be the year several states default?
A better question than which cities are on the list is who’s pension fund will go under because it is invested in municipal bonds.
I heard crime is skyrocketing in Newark.
Chicago is screwed going forward, the Mayor sold off all revenue streams to make budget.
Obamas base is sinking into the abyss.
Scratch Dubai, sounds as if you'd find the Pashtun to be a better fit.
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