The news would make Chicago happy
Running out of other people’s money?
Very sad for a state that was such an important part of our industrial growth and national defense. The price of liberal politics.
As always a bunch of Effing New York Lawyers are the only one’s who make out. RAT-run cities, counties and states use up ALL of OTHER PEOPLE’S MONEY, then they compound the problem by hiring a bunch of shyster lawyers to “restructure” the “un-restructurable.” The re-structuring needs to include substantial haircuts for pension benefits that are, and always have been unrealistic. “Public Service Employees” have to come to the realization that their “services” costs are THE Problem. I think we can look forward to everything that the RAT have run, to be heading for bankruptcy. We have too much “foreign aid” money going out to ungrateful and unworthy countries, and at the same time, we have too much “domestic aid” going to public employees. Gravity cannot be denied forever!
Maybe they can borrow some money from Puerto Rico.
That’s not possible - what with all the “investment” the gov’t makes in its population. /s
A week ago Illinois, New Jersey, and another state appeared to be in dire straits; debt downgrades imminent. Then we hear nothing and it seems business as usual.
Did I miss a bailout or something?
However they did it I assume Hartford will want the same deal.
The drunken Lords have run out of other people’s money.
Hartford is only 20 square miles, so I’m glad they (Hartford) don’t have 300 square miles, like some cities...
State of Connecticut - ain’t got enough money to pay it’s bills. Too bad, Hartford - this is what happens in states that have elect democrats for years.
Unions and teachers are destroying the Nutmeg State.
They managed to drive out the insurance industry too. Aetna leaving Hartford for NYC https://www.nytimes.com/2017/06/29/nyregion/insurance-giant-aetna-is-leaving-hartford-for-new-york.html
All municipal debt is till way over-rated. My company’s bonds are “junk” status, but has a way lower risk rating than Illinois and many other municipals. Our revenue would have to drop 35% before interest coverage would be an issue (and it dropped 25% in the great recession) with cutting capex or scaling back the dividend.
Hartford has been hurting for a long time. Had a GF there in the 80s who lived right near downtown.....was like a war zone then.