The second after Detroit town in the US had to go to extremes and declare itself a bankrupt. The matter concerns a small town of Hillview, Kentucky with the population of 8 million people.
The town assets make up $10 million, while liabilities are as high as $100 million. The fact made the town authorities file for bankruptcy protection.
The town got huge debts after a trial with the Truck America Training company over a land sale. Now the town should pay $11,4 million.
The town also owes money to the Bank of New York Mellon, LG&E, Salt River Electric and some others.
Also read: US economy kills Detroit
Read article in Russian on the Russian version of Pravda.Ru
Since the likes of the traditional Inauguration Day in the national Capitol are likely never to be witnessed again, take this opportunity from one who has been there to relate some truth about the experience