by Guest Author Shah Gilani
Alabama’s Jefferson County filed for bankruptcy protection on Wednesday, making it the largest municipal bankruptcy in U.S. history.
But believe it or not, that’s not the biggest story here.
The big story is how J.P. Morgan Chase & Co. (NYSE:JPM) – specifically, J.P. Morgan’s Securities arm – has a filthy hand in the whole Jefferson County saga.
This isn’t breaking news. I’ve written about it before and so have others. You just may have missed it because the spin machine was so effective that the story got buried fairly quickly. Continue reading
Meredith Whitney has made a prediction that there will be many municipal defaults. This article discusses that debate and how it may impact investment. Continue reading