Alabama County May File For Bankruptcy

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When local governments act like corporations, what happens? Jefferson County, Alabama, for one, home to Birmingham, is billions of dollars in debt.

Two commissioners in Jefferson County are pressing the county to file for bankruptcy court protection, as the county grapples with about $4 billion in debt related to a controversial series of bond transactions earlier in the decade.
Controversial, you say? I'm sure.

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This page contains a single entry by Choire Sicha published on March 25, 2009 10:24 AM.

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