Detroit’s bankruptcy judge will interview five candidates so he can choose one to help decide whether the city’s debt-adjustment plan is viable, including Richard Ravitch, who helped New York City resolve its fiscal crisis in the 1970s.
Challengers to Detroit’s bankruptcy suffered a setback when a federal judge rejected an argument by public pension-fund officials that a state court must rule on the validity of the case before hearings can begin.
Charles O. “Chuck” Prince and Robert Rubin were among Citigroup Inc. officials who knew 2007 losses were mounting on mortgage assets that U.S. regulators have faulted the bank for not disclosing, a court filing shows.
Private-equity mogul Bruce Rauner jabs his left index finger at the Chicago ballroom crowd after his victory in Illinois’s Republican primary election, vowing things will change in the debt-strapped state if voters choose him as governor in November.