Tightening Municipal Bankruptcy Laws

October 17, 2011 – In The News
Neighborhood Effects

Josh Klein and Michael Viscount's article "Municipal Bankruptcy and Political Will…Tools for Stability in Municipal Government" was referenced in this article about the increasing significance of municipal bankruptcy laws.

The article states that Klein and Viscount rightly argue that "Chapter 9 is a tool for a municipality to restructure its finances in an orderly fashion — but it is not a substitute for political will, which is required to tackle the difficult fiscal problems surrounding us…. Municipal bankruptcy will not eliminate any of the hard choices that must be made to restructure governmental obligations successfully."

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