The city of Harrisburg, recently filed for Chap 9, the city governnment's equivalent of Chapter ll. Will there be a spate of municipal corporation bankruptcies in the US? What is going to happen?
(Take note that because of unemployment, the resources of govt is being strained by welfare, lack of revenues in an endless spiral)? Is there going to be an end to federal and local govt woes? What are the solutions?
What are the implications of this development? Is it going to affect entrepreneurship? What are the opportunities. Is it going to happen in the Phil.? Are there countermeasures being put in place?
The link: http://hosted.ap.org/dynamic/stories/U/US_HARRISBURG_FINANCIAL_WOES?SITE=ILMOL&SECTION=HOME&TEMPLATE=DEFAULT
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