Bankrupt Harrisburg holds Wild West auction
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- ampersand
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Harrisburg, Pennsylvania is filing for bankruptcy after years of excess borrowing and spending. Will other American cities be forced to do the same?
They may have other things in common, but right now, Harrisburg, Pennsylvania and Jefferson County, Alabama share a dubious distinction.
Both are in the midst of record-breaking financial woes. And just to keep the headline writers happy, both sets of difficulties stem from costly ventures in waste management.
Populous Jefferson County is saddled with more than $4bn (£2.4bn) in debt, the bad odour emanating from a sewer project that went awry amid allegations of corruption.
In Harrisburg, a small city of 50,000 people groaning under more than $300m (£190m) of debt, the offending project - a waste incinerator - is no less symbolic.
"Everyone says the incinerator is burning the city's future," says Eric Veronikis of the local Patriot News.
http://www.bbc.co.uk/news/magazine-15749520
They may have other things in common, but right now, Harrisburg, Pennsylvania and Jefferson County, Alabama share a dubious distinction.
Both are in the midst of record-breaking financial woes. And just to keep the headline writers happy, both sets of difficulties stem from costly ventures in waste management.
Populous Jefferson County is saddled with more than $4bn (£2.4bn) in debt, the bad odour emanating from a sewer project that went awry amid allegations of corruption.
In Harrisburg, a small city of 50,000 people groaning under more than $300m (£190m) of debt, the offending project - a waste incinerator - is no less symbolic.
"Everyone says the incinerator is burning the city's future," says Eric Veronikis of the local Patriot News.
http://www.bbc.co.uk/news/magazine-15749520
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- groups:
- Community, Art and Style, Co-Evolution, Environmental Law
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ampersand
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You know, picking up the (valuable) pieces of bankrupt American cities might be an even greater coup for disaster capitalism than buying foreclosed US homes in lots of several hundred at a time.
- 6 months ago
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ampersand
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artemis6
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ampersand:
you bet it is ...
- 6 months ago
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artemis6
