"And then there are the costs of bankruptcy. Jefferson County has hired two well-known Hollywood bankruptcy attorneys charging about $1,700 an hour combined – a rate at which the lawyers will have earned the average per capita annual income in Jefferson County in just over three days."

Because they can . . . right?

"In an interesting side story, JPMorgan Chase will apparently continue to face fraud claims related to its role in Jefferson County’s sewer-related debt."

http://www.forbes.com/sites/shahgilani/2011/09/16/dear-jamie-dimon-whats-really-anti-american/

Have we done business with these people? Could this happen in Portland?

My family's part of today's Long Term Debt of the City of Portland calculations is $44,087.80. Wonder if JP Morgan would make me a loan for that...

Secret borrowing against future gas tax revenue suggests that the bailing isn't keeping up with the leaks. But, don't worry, Mayor will go speak at another international conference to promote the Portland "brand" and it will all be fine.

msmith you beat me to it.

Bankrupcty, Hoocoodanode that it was good for the economy? Those fees are part of GDP, right? How soon can we contribute to the great good?!?

Corrupt political systems my go bankrupt. Thank goodness. Students duped into borrowing because every role model in their life told them to pursue education and everything would work out fine. Sorry. No bankruptcy (or job) for you. Nerve = Touched.

PS: The pig farms are hiring!