San Bernardino Follows Stockton on the Bankruptcy Path |
| July 11, 2012 | July 2012 Bond Updates |
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Earlier tonight, the council of the California city of 210,000 voted to file for Chapter 9. When Stockton did the same a couple weeks ago, I avoided chiming in. My beat is trends across cities; municipal bankruptcy, though important and largely uncharted, is not likely to become a sweeping trend. San Bernardino, bleeding cash from its housing market fall, appears to be using the tactic, like Stockton, to pass over deeper, necessary structural reforms. |
| View more at: http://www.forbes.com/sites/markbergen/2012/07/11/san-bernardino-follows-stockton-on-the-bankruptcy-path/ |
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