Atlantic City takeover

New Jersey Gov. Chris Christie is taking a victory lap in Atlantic City, saying his hard-fought takeover of the struggling gambling resort is starting to pay off with projects like a new university campus and a major casino investment.

Mayor Don Guardian is seeking a second term and his first full term since the state takeover last fall.

A Wall Street ratings firm says New Jersey's takeover of Atlantic City's assets and major decision-making power should prevent the struggling resort from defaulting on its debt at least through the end of next year.

Atlantic City's troubled finances are in the hands of the state, and can be for the next five years. But it's yet to be seen if the city will fight to retrieve that power.

Gov. Chris Christie signs the bills that help Atlantic City avoid bankruptcy but give the city five months to fix its finances. If it can't, the state takes over.

Gov. Chris Christie says he’ll act quickly on the Atlantic City financial rescue bill being considered by the Legislature and signaled he’s likely to sign it.

“If they come up with something, great,” Christie said of a legislative compromise. “If they don’t, then bankruptcy would be the only option. And while I would regret having to go down that road, it is a road that I will have no choice but to go down.”

A crucial vote is set for Thursday in the Assembly, which is pursuing its own alternative to an Atlantic City takeover as default or bankruptcy inches closer.

How did the drive for an Atlantic City fiscal intervention lead to such personal acrimony? And will iet eventually give way to a compromise?

New Jersey: Decoded ... One alternative to the Atlantic City takeover was tweaked and advanced, while a second was panned as unrealistic -- though a promising sign.