First GM, now states? Pros and cons of bankruptcy

Is bankruptcy an option for states? First GM, now states? Pros and cons of bankruptcy. Updated: Tuesday, 01 Feb 2011, 5:48 PM EST Published : Tuesday, 01 Feb 2011, 5:46 PM EST. BERNARD CONDON and DANIEL WAGNER ,AP Business Writers ... and cities may default, investors in November and December pulled a record $21 billion from funds that invest in municipal bonds — twice as much as they did at the depths of the 2008 credit crisis, the Investment Company Institute says. ...

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