Posted by: Wargasm
Posting time: 3.2 years ago on 9/16/2017 7:40:40 PM
Last edit time: 3.2 years ago on 9/16/2017 7:41:36 PM
Archived on: 12/16/2017 10:00:00 AM
Views: 450
SCP: 20
20 upvotes, 0 downvotes (100% upvoted it)
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Archived I've heard Pennsylvania can't pay its bills. Does anyone know what happens when a state can't pay its bills? Do the debtors get to call repo men into government buildings? (whatever)
submitted 3.2 years ago by Wargasm
Edit: creditors not debtors.
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[–] BlancoCanyon 0 points 1 point 1 point (+1|-0) 3.2 years ago
A state hasn't gone bankrupt yet, but cities have. Similar results, I'd assume.
https://en.wikipedia.org/wiki/Detroit_bankruptcy
Creditors will be paid pennies on the dollar.
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[–] BlancoCanyon 0 points 1 point 1 point (+1|-0) ago
A state hasn't gone bankrupt yet, but cities have. Similar results, I'd assume.
https://en.wikipedia.org/wiki/Detroit_bankruptcy
Creditors will be paid pennies on the dollar.