First U.S. State Bankruptcy: The Unpleasant Race to it
January 19, 2011 at 09:55 AM EST
Ten U.S. states, accounting for about one-third of the U.S. population, are insolvent. You will find the list of states below. The question: what state will go bankrupt first? Technically, there is no legal process by which a state can file for bankruptcy. Chapter 9 of the Bankruptcy Code permits cities and municipalities to file [...]
