US states seek way to file for bankruptcy

PressTV - US states seek way to file for bankruptcy

So if companies and individuals can file why can't a State?? Good delaying tactic if nothing else. Now, of course, no State will bother paying any outstanding debt until this case is settled. No doubt, many appeals will be lodged. In the mean time money will not be moving and small traders will go bust while awaiting payment. In better times banks would give short three months cash flow loans on the Invoices outstanding awaitng payment from good payers. Now if a State may be able to declare Bankruptcy they cannot be thought of as a good payer any more as they can go bust if these Laws are allowed to be applied to them after all the Court cases.