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Jefferson County, Ala. starts to get out of the sewer
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This final note today, a footnote to the Meredith Whitney interview from earlier in the program, in which we draw the curtain on the the country’s longest running municipal bankruptcy.
Jefferson County, Ala., which got into a whole mess of trouble over sewer bonds gone bad, has made a deal with those to whom it owes the most.
Of note: JP Morgan Chase. Jamie Dimon and company will be getting back $0.31 cents per dollar for the $1.25 billion it’s owed.
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