Thursday, October 13, 2011

Harrisburg, Pa. declares bankruptcy

The capital of Pennsylvania filed for Chapter 9 bankruptcy protection last night, defying a new state law created to prohibit it from doing so. The Harrisburg city council voted 4-3 to take the drastic step, with supporters arguing that the state’s proposed recovery plan was unacceptable, Bloomberg reports. “We’re not incompetent. We’re just not going to let you run us over with the train anymore,” one councilwoman said, the “you” referring to state officials.

Read the rest of the story at Newser

No comments:

Post a Comment