Few good options for cities going bankrupt
This topic features six sound bites and one voice wrap.
In July, the city of Detroit became the largest city in the United States to file for bankruptcy. Eight cities and towns have filed for bankruptcy since 2010, and an additional 28 utilities, water districts, hospital authorities and other municipal units have also gone bankrupt in the wake of the financial crisis. Ken Kriz, Regents distinguished professor and director of the Kansas Public Finance Center at Wichita State University, explains why bankruptcy is such a difficult option.
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