Sweeney: Christie's Atlantic City Plan 'Bad Move'
TRENTON, N.J. (AP) — New Jersey's Senate president is threatening to go to court if the men appointed by Gov. Chris Christie to revive Atlantic City's finances seek bankruptcy protection for the beleaguered gambling resort.
Democrat Steve Sweeney on Thursday broke his silence a week after the Republican governor appointed a corporate turnaround specialist as the city's emergency manager and hired the man who led Detroit through its municipal bankruptcy as a consultant.
The Senate president says the decision eroded the city's bond rating and could have a negative financial ripple effect on New Jersey's other cities.
Corporate finance expert Kevin Lavin and consultant Kevyn Orr have said talk of a Detroit-style bankruptcy filing is premature.
Speaking to the New Jersey Conference of Mayors, Sweeney says he has Atlantic City's back.
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