Mish's Global Economic Trend Analysis Financial Discussion Blog:
Vallejo Bankruptcy Plan Offers Unsecured Creditors 5-20%;
JPMorgan CEO Forecasts More Municipal Bankruptcies;
Bernanke Will Not Rescue Cities
"Vallejo is using federal bankruptcy laws to stick it to unsecured creditors. Please consider Vallejo Plan Would Give Unsecured Creditors 5 to 20 Cents on the Dollar"
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