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18) a) Why are municipal bankruptcies (Chapter 9 of the U.S. Bankruptcy Code) rare? b) What is the equivalent to a Chapter 7 bankruptcy (i.e.,

18) a) Why are municipal bankruptcies (Chapter 9 of the U.S. Bankruptcy Code) rare?

b) What is the equivalent to a Chapter 7 bankruptcy (i.e., liquidation) for municipal issuers?

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