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Reload this Page chapter 9 cities cause uncertainty for municipal employees to bondholders (depression, pay, news)
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Old 02-20-2010, 06:32 PM
 
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The seldom-used part of U.S. bankruptcy law gives municipalities protection from creditors while developing a plan to pay off debts. Created in the wake of the Great Depression, Chapter 9 is widely considered a last resort and filings under it are more taboo than other parts of bankruptcy code because of the resulting uncertainty for everyone from municipal employees to bondholders.

muni-threat-cities-weigh-chapter-9: Personal Finance News from Yahoo! Finance=
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