Stockton, Calif. to become largest city to declare bankruptcy

[OverDone]

Source: CBSNEWS

(CBS/AP) STOCKTON, Calif. - Officials in Stockton said Tuesday that mediation with creditors has failed, meaning the Central California city is set to become the largest American city ever to declare bankruptcy.



Read more: http://www.cbsnews.com/8301-201_162-57461273/stockton-calif-to-become-largest-city-to-declare-bankruptcy/

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This is pretty big news when we now have cities filing bankruptcy. We are all used to companies / individuals filing but this is a whole new thing we rarely see.
Interesting times we are in.

http://www.dailyjobcuts.com

[OverDone]

1. A New Trend?

Is this a new Trend we are starting?

[Jack Rabbit]

2. For me, Stockton is called "the old sod"

I was born there 60 years ago. I am awfully unhappy to hear about this.

[UpInArms]

3. Orange County California - 1994

http://en.wikipedia.org/wiki/Orange_County,_California

just another history lesson not learned

(that thought is for the stupid municipalities - not the OP)

... sigh

[LeftyMom]

4. Vallejo filed several years ago.

So this isn't exactly unprecedented. Or even without recent local precedent.

[grilled onions]

5. Hey Millionaires--Invest In America!

They brag about their bountiful pocket change and how they love to invest. Yet time and time again you see them doing it across the pond. While cities and states sell their parking meters,roads and who knows what else I don't see any of these flag waving,flag pin wearing patriotic 'mericans ever want to stick there neck out--put their money where their mouth is kind of attitude and help the people here. S many of our problems could be solved if they would be willing to help WE THE PEOPLE. But because we are not WE THE SHEEPLE they are bound to ignore the pleas for help and allow cities,business's and the life of the average citizen to go down the drain.