Summary: This week Bruce Norris is joined once again by James Spiotto. James is a partner with Chapman & Cutler Law Firm in Chicago. He is an expert on the municipal bankruptcies, and he produced a document called A Primer on Municipal Debt Adjustments that Bruce recently read. Mr. Spioto is head of the Litigation, Bankruptcy and Workout Group. He has represented banks and bank groups, insurance companies, institutional investors, funds, indenture trustees and bondholders in litigation or workouts for more than 400 troubled debt financings in over 35 different states and ten foreign countries. He has testified in front of Congress a number of times. Bruce and James discuss fiduciaries and municipalities, meeting the long-term goals for employees both on the pension and municipal side, the ramifications of not fulfilling your promise in a business, James recent testifying on the ability or inability for a state to declare bankruptcy, rainy day funds, creating benefits for citizens and attracting employees, sovereign debt resolution, the economy in the early '80s compared to today, and much more on this week's real estate radio show and podcast. Play Nowhttp://www.thenorrisgroup.com/
