Tag Archives: Moody’s Warns Of Scranton Bankruptcy; Fitch Downgrades Chicago Citing Pension Problems; Liberal Fantasyland

Mish/ Mike Shedlock – Moody’s Warns Of Scranton Bankruptcy; Fitch Downgrades Chicago Citing Pension Problems; Liberal Fantasyland – 12 November 2013

MishMikeShedlockIt is truly pathetic watching politicians flop like fish out of water trying to prevent something that was clearly inevitable long ago.

Please consider Moody’s warns of bankruptcy in Scranton as city faces $20 million budget gap.

Moody’s warned investors that Scranton could be facing the threat of default or bankruptcy thanks to a $20 million budget gap for the fiscal year that begins Jan. 1. Scranton has more than $195 million in outstanding debt, according to Moody’s. Continue reading