Bankruptcy

Many voices have raised concerns over municipalities defaulting on bonds during these tough economic times. But as this op-ed argues, those concerns are misguided.

Budget-troubled Jefferson County, Alabama -- once thought to be on the brink of the largest municipal bankruptcy in U.S. history -- is moving forward with plans to clean up its finances.

The tiny city of Hamtramck, Michigan, is edging closer to bankruptcy, as budget woes grow.

As the economic downturn has caused many states and municipalities to borrow large amounts of money, some worry there may be a glut of them going bankrupt.

The economic recession is pushing many municipalities towards declaring bankruptcy.

Municipal bonds are being defaulted on left and right. But the news sounds worse than it is. Few of those defaults are by cities -- for now.

Budget issues are causing major issues for a handful of states. Neal Peirce argues these budget woes are a sign that states are making the wrong investments and that they idea of a state may be out of date.

President Barack Obama has announced a $75 billion plan to help counteract home foreclosures -- a move that aims to allow more than 9 million Americans to refinance their troubled mortgages.

The northern California city of Vallejo has declared bankruptcy, becoming one of few cities and the largest in the state to do so. Other struggling cities are watching closely to see if the strategy helps to save the city.

Thousands of stores across the country face closure as the credit crisis curtails consumer spending, and chain retailers file for bankruptcy.