Amy Goodman
@DemocracyNow·3.2M subscribers·19.4K videos
Who Will Run GOP Primary in Birmingham After JPMorgan Scheme Results in County Bankruptcy?
Posted
March 13, 2012
Views
802
Likes
10
Engagement
1.25%
March 13, 2012
802
10
1.25%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
7:35Now Playingdemocracynow.org - As Mississippi and Alabama hold their Republican primaries, we go to Jefferson County, Alabama, where financial situation is so grim that cannot hire enough staff to run the today's election. Critics say Jefferson County, home to Birmingham, represents some of the worst consequences of the pro-corporate agenda backed by leading Republican candidates. Late last year, it filed the largest municipal bankruptcy in U.S. history after failing to refinance nearly $4 billion in debt. Jefferson County was deep in the red after reaching a complicated scheme with Wall Street investors to finance the cost of rebuilding a broken sewer system. The county reached an agreement with the Wall Street giant JPMorgan to refinance through interest rate swaps, but later sued the firm after its debt ballooned on what was initially a $250 million project. Earlier this month, a bankruptcy judge ruled Jefferson County's bankruptcy filing can proceed, rejecting the pleas of creditors including JPMorgan Chase Bank and Bank of America. For more we're joined from Birmingham by Barnett Wright, a senior reporter who covers Jefferson County for The Birmingham News.
To watch the complete daily, independent news hour, read the transcript, download the podcast, and for the additional Democracy Now! interviews about the 2012 election,
FOLLOW DEMOCRACY NOW! ONLINE:
Twitter: @democracynow
Subscribe on YouTube
Listen on SoundCloud
Daily Email News Digest
Please consider supporting independent media by making a donation to Democracy Now! today, visit
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
