Wednesday, November 9, 2011

Time to Bend Over Mr. Dimon: Jefferson County Files Largest Ever Chapter 9 Bankruptcy

The Birmingham News has Tweeted that Jefferson County has filed for bankruptcy.
Jefferson Co. would be the largest Chapter 9 bankruptcy filing ever, and to the delight of SD readers, none other than JP Morgan is the county's largest creditor- thanks to a massively bribed bad sewer refinancing deal the county struck with the megabank.
For those who need a refreshed on exactly how JP Morgan hustled Jefferson County into the largest Muni bankruptcy filing in US history over a sewer project construction debt can find Matt Taibbi's expose here:

Jefferson County Commission makes motion to file bankruptcy.