"A republic, if you can keep it." Vegas, taxes.
"A republic, if you can keep it." Vegas, taxes.
Implicit in the question of whether states should be allowed to file bankruptcy is, what happens to the bondholders? Do they get paid in full or take a haircut? In fact, this is probably a core issue. Bond holders say…
Bloomberg has a superb investigative reporting piece on the apparent rampant criminal behavior of investment banks and advisers in Guaranteed Investment Contracts in the municipal bond market – something which cost the public billions. “The whole investment process was rigged…