SBYnews has been warning its readers about an impending crisis that threatens the very fabric of this nation. Defaulting municipalities are very likely to develop over the next year as municipal government's budgets continue to erode as our nation's economy sputters. Our readers will want to read how the US Federal Bankruptcy Court treats municipalities as they seek bankruptcy protection to thwart off paying creditors.
Meredith Whitney has been predicting that between 50-100 municipalities will fail in the ensuing months as a result of our nations deep recession. She is the notorious person that predicted the financial system meltdown - prior to its collapse.
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