Flushed Away: Jefferson County, Alabama’s Sewer Debt Crisis
affiliation not provided to SSRN
Journal of Applied Finance, Spring/Summer 2012, Volume 22, Issue 1, pp. 6-17
Kleptocracy is a term used to describe “[a] government characterized by rampant greed and corruption,” American Heritage Dictionary of the English Language (4th ed. 2000). To that definition dictionaries might add, as a helpful illustration: “See, for example, Alabama’s Jefferson County Commission in the period from 1998 to 2008.” Judge Edward Carnes, United States Court of Appeals for the Eleventh Circuit.
Keywords: Municipal bankruptcy, Kleptocracy, Debt Crisis, DowngradeAccepted Paper Series
Date posted: July 29, 2012
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