San Bernardino, California, eligible for bankruptcy: judge

[Eugene]

Source: Reuters

San Bernardino, California, eligible for bankruptcy: judge

By Tim Reid
RIVERSIDE, California | Wed Aug 28, 2013 6:19pm EDT

(Reuters) - San Bernardino, California, is eligible for bankruptcy protection, a federal judge said on Wednesday, in a "tentative ruling" ahead of full court arguments later in the day.

Judge Meredith Jury of the U.S. Bankruptcy Court for the Central District of California, said the city of 210,000, located 60 miles east of Los Angeles, was eligible for bankruptcy protection "as a matter of law based on incontrovertible facts."

The tentative ruling came despite objections by the California Public Employees' Retirement System, or Calpers. The $260 billion pension fund is the city's biggest creditor.

San Bernardino filed for bankruptcy protection one year ago.

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Read more: http://www.reuters.com/article/2013/08/28/us-usa-municipals-sanbernardino-idUSBRE97R18020130828

[Cleita]

1. Too bad. It was the American city I lived and went to school

in when I wasn't in South America with my parents. It was a base town then and most people worked at the base which also supported local business. Once Norton AFB was mostly shut down, the decline in the town began. Most of the young people escaped to Los Angeles to go to college or get a job. Frankly, I couldn't get out of their fast enough after graduation. It was too hot. I never went back although I do have some happy memories.