Municipal Financial Recovery Advisory Committee - Harrisburg Receiver William B. Lynch: "I'm sure they're very disappointed in us."

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Harrisburg Receiver William B. Lynch discusses the September 15th general obligation bond payment the City of Harrisburg will miss. It's the second GO bond payment skipped this year because of the City's cash limits, and the second time the insurer of the bonds, AMBAC, will have to make the payment to the bondholders. When asked what AMBAC's reaction to the City's inability to make the payments is, Harrisburg's Receiver replies, "I'm sure they're very disappointed in us." ---Tara Leo Auchey

 
Tags: CREDC, Dave Black, Municipal Financial Recovery Advisory Committee, Receiver William Lynch