Saturday, August 01, 2009

Jefferson County Ala preps for shutdown

Link
“Outside of the city of Detroit,” said Robert A. Kurrter, a managing director with Moody’s Investors Service, “it’s fair to say we haven’t seen any place in America with the severity of problems that they’re experiencing in Jefferson County.” Moody’s rates Jefferson County’s credit lower than any other municipality in the country.

In July, the county asked Gov. Bob Riley, a Republican, to declare a state of emergency. Mr. Riley declined, delicately explaining that his authority extended to tornadoes but not to tsunamis of red ink.