'The filing — which listed debts in excess of $400 million, largely associated with a failed trash incinerator — pitched the city into political confusion. A spokesman for Mayor Linda Thompson initially said the filing had not been made. Ms. Thompson later held a new conference denouncing the move as “a sneak attack,” according to The Associated Press'.
'Council members like Brad Koplinski, who voted for the filing, acknowledged that it was an extraordinary move, but argued that the petition was legal, and even necessary because the mayor’s state-backed plan for financial overhaul had been rejected by the Council. The Council has been locked in battle with Ms. Thompson for months, voting to reject her plan largely on the ground that it demanded too little from creditors'.
“Everyone on Wall Street would have been paid, and the taxpayers would be left holding the bag,” Mr. Koplinski said by telephone'.
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