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Published on Jan 26, 2012
States and localities face severe fiscal distress, as revenues sink and obligations to creditors and pensions consume budgets. Who is to blame for the crises that many governments face, and who should bear the losses if states and municipalities cannot pay all their obligations? Residents? Bondholders? Unions and pensioners? In the January 25 Milbank Tweed Forum, panelists discussed these pressing and contentious issues.
Panelists: Jonathan Ballan, Member, Mintz Levin Cohn Ferris Glovsky and Popeo Richard Ravitch, Co-chair, Volcker-Ravitch Task Force on the State Budget Crisis Lillian Roberts, Executive Director, District Council 37, American Federation of State, Country & Municipal Employees