Understanding the Impact of the Birmingham Bankruptcy

“For the roughly 660,000 residents of Jefferson County, which includes Birmingham, the state’s largest city, bankruptcy means a threat to essential jobs and services. More immediately, it means sewer system rate hikes, an added burden on poor people already saddled with some of the highest rates in the country. ‘It’s terrible for the sewer rate… Continue reading Understanding the Impact of the Birmingham Bankruptcy

Largest Muni Bankruptcy, Jefferson County Ala.

“In another sign of America’s fiscal mess, Jefferson County, Alabama filed the largest municipal bankruptcy in U.S. history on Wednesday. The most-populous county – home of Birmingham – defaulted on more than $3 billion of debt related to a sewer system project after negotiations with creditors broke down. The biggest loser – besides the locals… Continue reading Largest Muni Bankruptcy, Jefferson County Ala.