When New York City threatened to declare bankruptcy in 1975, the idea so terrified everyone that it forced the city, its workers and its recalcitrant bankers to sit down and find ways to share the pain. ... Read more
DETROIT — The emergency manager who was sent to reverse the fortunes of this financially troubled city asked some of its creditors on Friday to accept pennies on the dollar as he laid out his plan for ... Read more
DETROIT — The emergency manager who was sent to reverse the fortunes of this financially troubled city asked some of its creditors on Friday to accept pennies on the dollar as he laid out his plan for ... Read more
DETROIT — An emergency manager who was sent to reverse the fortunes of this financially troubled city asked some of its creditors on Friday to accept pennies on the dollar as he laid out his plan for ... Read more
DETROIT — An emergency manager who was sent to reverse the fortunes of this financially troubled city asked some of its creditors on Friday to accept pennies on the dollar as he laid out his plan for ... Read more
DETROIT — An emergency manager assigned to lead this city back from the brink of financial ruin has taken his first detailed look at Detroit’s woes, and the picture of debt and disarray he paints ... Read more
DETROIT — An emergency manager assigned to lead this city back from the brink of financial ruin has taken his first detailed look at Detroit’s woes, and the picture of debt and disarray he paints ... Read more
HARRISBURG, Pa. (AP) — The Securities and Exchange Commission on Monday accused Harrisburg, Pennsylvania’s debt-laden capital, of violating federal antifraud rules for securities issuers by ... Read more
Representatives from California and two other states introduced a bill in Congress on Thursday that would strip states and cities of their right to issue tax-exempt bonds unless they first disclosed the true ... Read more
A federal bankruptcy judge ruled on Monday that the city of Stockton, Calif., was eligible for court protection from its creditors, clearing the way for a battle over whether public workers’ pensions can ... Read more