Magnitude of the Fiscal Storm: Potential Effects and the Agencies Impacted

This session will discuss the magnitude of claims, those agencies directly impacted, and  the limitations on our ability to estimate the full scope of liability. Panelists will frame our understanding of the total liability versus the general fund capacity of local  agencies, the potential effects on public services, and the current response strategy of  local leadership. The session will also discuss the direct and indirect ratings implications,  potential risks of financial contagion, and the impact on the cost of financing.