So, what’s next?

Jefferson County won’t meet Friday collateral deadline on sewer debt – Breaking News from The Birmingham News – al.com

They can’t come up with collateral, and have asked for more time. The banks could terminate the agreement and demand the money now, but the county doesn’t have the money, and certainly nobody’s going to loan them any. Richard Shelby said, basically, that no Federal bailout is forthcoming, and I wouldn’t expect much from the state. So, like I said… What’s next?

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