Wednesday, November 16, 2011

Another bankruptcy besides Fannie and Freddie, Harrisburg. PA

How sad is this.  Maybe these bankruptcies are being reported on the nightly news but I have not seen any.

                  Harrisburg, Pennsylvania filling for bankruptcy
They may have other things in common, but right now, Harrisburg, Pennsylvania and Jefferson County, Alabama share a dubious distinction.
Both are in the midst of record-breaking financial woes. And just to keep the headline writers happy, both sets of difficulties stem from costly ventures in waste management.
Populous Jefferson County is saddled with more than $4bn (£2.4bn) in debt, the bad odour emanating from a sewer project that went awry amid allegations of corruption.
In Harrisburg, a small city of 50,000 people groaning under more than $300m (£190m) of debt, the offending project - a waste incinerator - is no less symbolic.
"Everyone says the incinerator is burning the city's future," says Eric Veronikis of the local Patriot News.

No comments:

Post a Comment

all comments will be signed to be published