For the commute home, or while marking your over/under on tomorrow’s payrolls number,
- Banks’ litigation losses in tabular form. Read more
Those who believe municipal or state bankruptcy is a clean and simple option may want to take a peek at the city of Vallejo’s proposal to exit court control of its finances. Details from Bloomberg on Wednesday:
The city would pay general unsecured creditors about 5 percent to 20 percent of their claims, according to court papers filed in U.S. Bankruptcy Court in Sacramento, California’s capital. The creditors, who include retirees and former employees, will be paid $6 million over two years, according to the filing. Read more
This, perhaps, is precisely the scenario Messrs Spitzer and Dinallo are hoping to avoid:
The city of Vallejo is on the brink of becoming the first California city ever to declare bankruptcy, City Council members said Tuesday. Read more
1Bernanke weighs in on robot wars; brings Keynes for backup
2Secret liquidity and Scottish independence
3Spain's awful unemployment
4Pump up, debase
5S&P 2,100, by Goldman Sachs
Show more6Buyback to enrich
7Collateral crunch-counting gets sophisticated
8Everlasting credit, the long view
9Apple Operations International, facts (?) du jour
10In which the FTSE puts the crisis behind it
Show fewer