Yield on Chicago School Bond Offering Hits 5.63%; Debate Over Risk; Miracles Not Coming; Bankruptcy the Sensible Option – Mish’s Global Economic Trend

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Exactly what Jim says — no bankruptcy allowed means no legal process allowed when the entity goes de facto bankrupt.

That’s even worse than allowing for bankruptcy.

Jim Palermo
8 years ago

“The only saving grace at the moment is that Illinois does not allow municipal bankruptcies.”

Why is Illinois’ prohibition on municipal bankruptcies a saving grace?

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A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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