The Daily Docket: Lawmakers Kill Jefferson County Rescue Bill

Alabama lawmakers refused to throw struggling Jefferson County a financial lifeline with a bill that would have allowed it raise millions of dollars in taxes. The move would have helped the county plug holes in its general fund and ease it out of bankruptcy sooner. Read the Daily Bankruptcy Review article here.

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The Wall Street Journal reports that a lawyer for General Motors Co. demanded that a car-crash victim’s widow stop trying to seek punitive damages.

The Securities and Exchange Commission is probing hedge-fund firm Magnetar Capital LLC over its role in certain collateralized debt obligations, or CDOs, WSJ reports.

According to WSJ, ports-to-telecom operator Hutchison Whampoa Ltd. sought to have its bid for Eircom Ltd. considered.

Pennsylvania state Sen. Jeffrey Piccola has accused Harrisburg’s former receiver of not intending to “legitimately” solve the city’s financial ills, the Patriot-News reports.

Former Taylor, Bean & Whitaker Mortgage Corp. chief Lee Farkas wants an appeals panel to reverse his conviction for operating a $3 billion fraud scheme, the Associated Press reports. Farkas is seeking a retrial.

Lawmakers and regulators are scrutinizing cases of dental abuse in schools and are trying to determine whether a popular business model is hurting the dental industry, Bloomberg reports.

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