Channeling Meredith Whitney: A former state judge in Rhode Island warns that bankruptcy is...

|By:, SA News Editor

Channeling Meredith Whitney: A former state judge in Rhode Island warns that bankruptcy is nearly unavoidable for the city of Providence - despite efforts by the mayor to pressure non-profits including Brown University to chip in with payments. Legal experts warn that the move could become more popular with municipalities if the protection of the court is viewed as "useful" - instead of something to avoid at all costs.