Malloy will be leading a delegation of his fellow Democrats down there to see how it's done

I see Light at the end of the tunnel, but it kind of looks like a train

Puerto Rico declares bankruptcy

Federal officials placed Puerto Rico under bankruptcy protection, setting up a showdown with Wall Street firms owed billions of dollars in the largest-ever U.S. municipal debt restructuring and further complicating the U.S. territory’s efforts to pull itself out of a financial mess.

The federal oversight board installed by Congress invoked a quasi-bankruptcy law that puts Puerto Rico’s standoff with creditors before a federal judge in San Juan. The judge’s decision marks the start to what could be a lengthy legal fight as Wall Street watches closely to see how other indebted municipal governments may fare in confrontations with investors.

Puerto Rico and its agencies owe $73 billion to creditors, dwarfing the roughly $18 billion owed by the city of Detroit when it entered what was previously the largest municipal bankruptcy in 2013.

Next up will probably be Illinois, which owes $321 billion, but Connecticut, a far smaller state with legislators every bit as incompetant as Illinois' owes $112 billion. That's a damn good start.