San Bernardino's creditors square off with a group of Wall Street bondholders arguing they...

|By:, SA News Editor

San Bernardino's creditors square off with a group of Wall Street bondholders arguing they should have the same status as Calpers in the city's bankruptcy proceedings. Among the creditors are Ambac and a unit of MBIA (MBI). A loss by the creditors would have major repercussions for municipal finance - look for the case to make its way to the Supreme Court at some point.