Top Democrat on House Judiciary Committee Calls for Hearings on Muni Bankruptcy Filings

The Bond Buyer reports:

Rep. John Conyers, Jr. is urging the chairman of the House Judiciary Committee to hold hearings about the increasing number of municipality filings for bankruptcy under Chapter 9 and whether cities are misusing the process to “unilaterally abrogate obligations” otherwise protected by law such as those to retirees and bondholders.

Democracy The God that Fails.