AL: County files for largest municipal bankruptcy

posted by
November 9, 2011
USA Today    
Posted in News

"Alabama's most populous county filed the largest municipal bankruptcy in U.S. history Wednesday, years after being plunged more than $4 billion into debt by a corruption-riddled sewer project. Just two months after it seemed Jefferson County could stave off embarrassment by striking a deal with creditors, talks broke down over about $140 million, said Commissioner Jimmie Stephens, who made the motion to file for the protection." (11/09/11)

http://usat.ly/rDwLGE  

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