City’s bankrupt

Discussion in 'Economics' started by timcar, Jul 11, 2012.

  1. timcar


    San San Bernardino became the third California city in that small span to choose Chapter 9 bankruptcy protection with a City Council vote on Tuesday night.

    The Southern California city of about 210,000 people will also become the second largest in the nation ever to file for bankruptcy. Stockton, the Northern California city of nearly 300,000, became the biggest when it filed for Chapter 9 on June 28. The much smaller city of Mammoth Lakes voted for bankruptcy July 3.

    ALSO scraton PA
    Scranton's 398 city workers -- including firefighters, police officers and the mayor himself -- were paid a reduced rate of $7.25 an hour.
  2. Although it's only the third CA city to be bankrupt, it's surprising how mundane this news feel.

    I am still awaiting more news about how that PA story will play out. To be honest, besides the firefighters and police, I have no problem with state employees receiving minimum wage.