OPINIONMichael Greve, Opinion contributor Published 5:12 p.m. ET April 28, 2020 We did not bail out states or their creditors even after the Civil War or in the Great Depression: Another viewSenate Majority Leader Mitch McConnell’s proposal to consider bankruptcy proceedings for states would encounter acute constitutional difficulties. Moreover, experience with municipal bankruptcies counsels against the proposal.Those proceedings might solve temporary liquidity problems for small government entities. But Illinois is not small, and its problem is not a mere lack of liquidity: It is a failed enterprise facing insolvency.In corporate bankruptcy, such enterprises are restructured or dissolved. We cannot do that to states.Sen. McConnell’s suggestion nonetheless sends a much-needed message: We must not accede to the demands of the states, their pension funds and their investors for yet another $500 billion or $700 billion in debt relief.Even fiscally sound, responsible states cannot be expected to cope with a calamity of the present magnitude. But now that Congress and the federal government have supplied substantial emergency funds, they must hold firm against thinly veiled bailout demands.OUR VIEW: Bail out states, but not irresponsible pension fundsWe did not bail out states or their creditors even after the Civil War or in the


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