I don't. I was just pointing out that laissez-faire business-as-usual nothing-to-see-here-folks attitude is rarely suitable for municipal bankruptcies.
None of the recently bankrupt municipal entities in the US - Stockton, Detroit, San Bernardino - are fun to live in, and most are in a downward spiral of cutting government services, which leads to employers leaving, which leads to residents moving, which leads to cutting government services, etc.
None of the recently bankrupt municipal entities in the US - Stockton, Detroit, San Bernardino - are fun to live in, and most are in a downward spiral of cutting government services, which leads to employers leaving, which leads to residents moving, which leads to cutting government services, etc.