http://knowledge.wharton.upenn.edu/ Knowledge@Wharton is an online resource that offers the latest business insights, information, and research from a variety of sources. Content includes analysis of current business trends, interviews with industry leaders and faculty, articles based on the most recent business research, book reviews, conference and seminar reports, and links to other websites. en-us Copyright (c) 2012 The Wharton School of the University of Pennsylvania http://www.wharton.upenn.edu/faculty/hussain_waheed.jpg http://www.wharton.upenn.edu/faculty/ 125 45 Wharton Faculty Research Law and Public Policy http://knowledge.wharton.upenn.edu/article.cfm?articleid=2720&source=rss Follow the news in just about any state in the country and you're likely to find accounts of budget woes. California, Illinois, New Jersey -- the list goes on, with some estimates suggesting that states altogether face a $125 billion budget gap over the next year, and much more later. When individuals and corporations find liabilities overwhelming their assets, they can declare bankruptcy. Now, some experts believe that bankruptcy may be a viable option for states, while others are concerned about what the fallout would be for bondholders and other parties. Experts from Wharton and elsewhere weigh in. Wed, 16 Feb 2011 15:29:54 EST Law and Public Policy http://knowledge.wharton.upenn.edu/article.cfm?articleid=2707&source=rss The protests in Egypt are likely to lead to long-term benefits for frustrated citizens accustomed to living under the thumb of a corrupt system that has left millions of young adults jobless and instilled a sense of hopelessness for the future, say Wharton faculty and other observers. Yet much-needed reforms will take many years to unfold, they add, and their success will depend in part on how military leaders want events to play out. Wed, 02 Feb 2011 15:51:26 EST