Whats going on In Jefferson County Alabama?

The Birmingham News reported on Sunday that Alabama’s Jefferson County’s financial options are quickly shrinking after a large credit downgrade late Friday left the cash-strapped county with few options and increased the chances of bankruptcy. The abrupt downgrading of the county’s sewer bonds to junk status by Standard & Poor’s sent county officials scrambling… Moody’s Investors Service last week said Jefferson County’s menagerie of complex financial structures is unprecedented and that the county is teetering on default; furthermore they noted that its situation is opaque to outsiders who can’t get updated information from commissioners… The crisis stems from the collapse of Jefferson County’s sewer bonds.

Read more about it all here.

Posted in * Economics, Politics, Economy

2 comments on “Whats going on In Jefferson County Alabama?

  1. zana says:

    Speaking as a Alabama native, both Birmingham (county seat) and Jefferson County are falling into…. disrepair. Birmingham only narrowly avoided having its school system taken over by the state. See here So, no, I don’t know what’s going on in JeffCo, but it makes me sad to watch it happen.

  2. talithajd says:

    As a Jefferson County resident, I have been watching this trainwreck for years! I’m personally looking forward to County-wide bankruptcy. Hopefully, very soon, the rest of the county commission will be indicted (along with our illustrius Bham mayor) and we can start with a clean slate. I wouldn’t mind my $100 water bill so much if I thought the money wasn’t just going down the toilet! Ahh the sweet, sweet relief of receivership!