Jefferson County, Ala., could be filing for bankruptcy after failing to negotiate terms with lenders.  If the county defaults, it would be the largest ever municipal bankruptcy.

“After months of failed negotiations with creditors and counterparties to its troubled sewer debt, The county, which is home to Birmingham, the state’s largest city, isn’t expected to meet a Friday deadline for an interest payment, after it received numerous extensions for earlier deadlines.”  Source: WSJ