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Resource ID: #24006
Subject: Municipal Finance
Source: The Birmingham News
Affiliation: 
Date: 02/13/2008-12/16/2008

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Until early 2008, no one paid attention to Jefferson County sewer debt. That is when auction-rate-security auctions began to fail and two municipal bond insurers for county bonds were downgraded. Soon, the most populous county in Alabama faced the threat of the largest municipal bankruptcy in U.S. history.

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