Municipal Metldown: Massachusetts

Bloomberg did a series of these profiles on local governments in trouble.  They seem to be determined to push the idea that States and municipalities are on the verge of bankruptcy.  Here, Massachusetts is begging the Fed for access to the discount window, just like the banks and corporations.  Something is clearly going on at the state and local government level.  Go to this link to see more in this series:  http://www.clipsyndicate.com/publish/video/714119/credit_crunch_spotlight_massachusetts