The Surprising Blessings of Blue State Bankruptcy
In the months following the 2008 subprime mortgage crisis, many believed that blue states most burdened by the combination of underfunded public pensions and large deficits would have to declare bankruptcy. Oppenheimer Managing Director Meredith Whitney, Kynikos Associates founder James Chanos, and other investment experts voiced this prediction. The fact that states did not actually […]
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