Category Archives: Bankruptcy Laws

Bailouts or Bankruptcy – How Can America Help Financially Troubled States?

In an important op-ed piece in The Wall Street Journal this week, University of Pennsylvania Law Professor David Skeel takes on the issue of financially troubled states such as California, New York, and Illinois.  California, for example, faces a potential state budget deficit of $20 Billion in the next 18 months, along with state pension funds whose underfunding exceeds $500 Billion.  What can we do [...]
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