AHERF again and again
AHERF is worth thinking about again. Lots of talk of public sector bankruptcy around the country as I have been pointing out. Some may not realize that AHERF's bankruptcy was filed under chapter 9 of the bankruptcy code. Thus in the eyes of the law, it was a public entity like a government in some ways. I simplify of course, but it's worth remembering. That and for everyone who tells me chapter 9 bankruptcy can't happen around here... there was a time when the concept of AHERF going bankrupt was pretty inconceivable.
What is also worth thinking about, because it shows. The financial calamity of AHERF is not ancient history in that it was only last year that the final financial issues from the bankruptcy were unwound. You would think they would have learned from all that, but some cycles are forced to repeat themselves, thus the references in the first paragraph.