Bankruptcy would disrupt market:
As Illinois battles with the country's second-largest state budget deficit--some $13 billion--its treasurer, Dan Rutherford, told CNBC Tuesday that bankruptcy, an idea being floated to close budget gaps, would disrupt the bond market and break trust with vendors who do business with the state.
Charter Communications said Thursday it would file for Chapter 11 bankruptcy protection by April 1 and all shareholders' equity will be canceled.