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Strategies & Market Trends : Galapagos Islands

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To: Jorj X Mckie who wrote (56332)	4/14/2008 9:06:03 PM
From: Patrick Slevin	Read Replies (1) of 57110

Hey look, a community that makes Orange County look "not so bad". Largest U.S. Municipal Bankruptcy Looms in Alabama: Commentary by Joe Mysak April 11 (Bloomberg) -- They're talking more about Chapter 9 municipal bankruptcy in Jefferson County, Alabama, the home of the largest city in the state, Birmingham. Who can blame them? The county is now being whipsawed by an ill-thought-out debt policy and the collapse of the bond insurers. Credit-rating downgrades all around have triggered a series of events that are no longer in the county's control, leaving it at the mercy of securities firms that have little room for maneuver themselves. bloomberg.com

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