A deal to help save Atlantic City from financial collapse could be in the works. Or maybe not. Brent Johnson, NJ.com Read more
N.J. lawmaker confusion: A deal to save Atlantic City is near. Or maybe not.
Tag: Atlantic City bankruptcy
Sweeney Seethes After Prieto Delays Posting Own AC Takeover Bill
Following a rash of sudden disappearances from Thursday’s Assembly session and Speaker Vince Prieto’s decision not to post his competing Atlantic City takeover bill, Senate President and takeover sponsor Steve Sweeney was noticeably agitated after five hours of delay and closed-door caucus meetings. Sweeney reiterated his call for the Speaker to post the version of the takeover bill passed in the Senate. With an anticipated 39 votes out of the 41 needed to pass his bill, Prieto decided to fight another day earlier that afternoo JT Aregood, PolitickerNJ Read more
An Atlantic City bankruptcy:promising for taxpayers, bad for politicians!
An Atlantic City bankruptcy:promising for taxpayers, bad for politicians!
By Matt Rooney
Doomsday predictions were leveled, Save Jerseyans, but over one year removed from the Detroit, Michigan bankruptcy – the largest municipal bankruptcy in U.S. history –the Motor City is shaping up and making substantive progress. It can pay its bill and streets are being repairs. Sad as it is to stay, that’s huge.
You’re only surprised if you don’t trust the framework established by our Framing Fathers. Specifically, Article 1, Section 8, Clause 4 of the U.S. Constitution which authorizes Congress to enact “uniform Laws on the subject of Bankruptcies throughout the United States.”
And, of course, if you’re a politician fighting over Atlantic City like lions or hyenas battle over the scraps of a rotting carcass…
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