Wednesday, April 18, 2012

Ready for Kentucky's bankruptcy?

While Kentucky's political leaders mostly clown for the cameras in Frankfort, the smart money is watching the show but they aren't laughing. They are apparently, however, exploring ways to capitalize on our state's insane recklessness. The graphic below comes from, a site which tracks IP addresses of site visitors to Kentucky Progress.

Lazard Freres is a top financial restructuring advisory firm. In fact, Lazard Freres worked on the 2008 Lehman Brothers bankruptcy at the start of the banking crisis. It appears someone at the firm's New York office has been reading on this site multiple times. If you want to know what they know, you should read two of the pages they read most recently here and here.

 States can't legally declare bankruptcy, but that may be of cold comfort to bondholders and/or pensioners when our fiscal situation gets so bad there isn't enough money to go around.