Municipal Bond Credit Report: State Must Devise Special Hartford Rescue (Op-Ed)

Municipal Bond Credit Report: In his state of the state address Jan. 4, Gov. Dannel P. Malloy sketched out a plan to “ensure that no Connecticut city or town will need to explore the avoidable path of bankruptcy.” Though details were sparse, he implied that the best way to stave off municipal insolvency would be a statewide restructuring of local aid, especially for schools.
This approach is illogical. Only one Connecticut city is now at risk of bankruptcy, Hartford. State government must act soon to prevent Hartford from going broke but the fiscal outlook of Waterbury, Bridgeport and New Haven is not as dire… Link to Story