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Philadelphia at risk of bankruptcy?

Posted by James Yip on July 26, 2013 at 10:10am

Found this article about PA (It was in April so not really new news). It claims "Philadelphia, 5th Largest City in US is Effectively Bankrupt; Mayor Holds Closed Meeting With Wall Street to Discuss Asset Sales." Interesting read.

http://globaleconomicanalysis.blogspot.com/2013/04/philadelphia-5th-largest-city-in-us-is.html

 

In Philly's defend, see this other article:

http://blogs.phillymag.com/the_philly_post/2013/07/18/no-philadelphia-detroit/

 

Not sure what the ramifications for investors are. Either something to watch out for because the city might raise taxes and/or reduce public services to fund debts in the potentially impending restructure? Or a buying opportunity in disguise.

 

 

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