Was Whitney right afterall? Harrisburg goes bankrupt.
I did see the CNBC interview and the convoluted attitude once again put out there that the bond holders were more important than the citizens and employees of the debtor- Harrisburg in this case. There is no more important side here, just like anywhere else. There is a balance that needs to be met. People can not be made into serfs anymore than the integrity of the financial system should be compromised. Investors assume risk. From time to time they will get a haircut. That's ok. What's not ok is wiping out a city, or state, or nation. Find a balance.