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That's true. But it's also true that contracts are subject to renegotiation in the case of bankruptcy. When we make financial deals we typically assume some of
by humanrebar 10y ago
That's true. But it's also true that contracts are subject to renegotiation in the case of bankruptcy. When we make financial deals we typically assume some of the risk of our financial partners.
- beatpanda 10y agoDid the state, or any city, declare bankruptcy?
- paulddraper 10y agoNo. States (currently) cannot declare bankruptcy. A city certainly can, and they have, e.g. San Bernardino, Stockton, Detroit.
- vkou 10y agoWhy consider renegotiating pensions, instead of all the other agreements with creditors?