Bankruptcy May Kill Some California Cities

Thursday, 12 Jul 2012 11:06 AM

By Andra Varin

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Three California cities have filed for bankruptcy protection in the past month, and more could follow suit. As municipal money woes continue, experts say some cash-strapped municipalities may go out of business entirely.

San Bernardino this week became the third California city to go bankrupt, following Stockton and the resort town of Mammoth Lakes.

“There are likely to be more in the future, but it's hard to know, since a lot of struggling cities may manage to work things out,'' Michael Coleman, a fiscal policy advisor for the California League of Cities, told Thursday’s edition of the Los Angeles Times.

“Some cities may not go into a bankruptcy, but they may dissolve. They may cease to exist,” Coleman said.

In San Bernardino, Mayor Patrick Morris says the struggling city may have to dissolve its fire department or portions of its police department.

"I think all possibilities should be on the table," Morris told the L.A. Times. "That includes privatizing services; that includes regionalizing services."


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Ex-Romney Adviser: Americans Don't Appreciate Foreign Policy

Thursday, 31 Jul 2014 21:00 PM

Americans are woefully underinformed on the need for strong foreign policy, but that doesn't mean their leaders should a . . .

Obamacare Gives Some Young Adults Incentive to Stay Uninsured

Thursday, 31 Jul 2014 20:42 PM

Despite its intended goal to provide health insurance to everyone, Obamacare actually gives some young adults a strong f . . .

CNN Anchor Tweets Insult About Fox News Climate Story

Thursday, 31 Jul 2014 19:26 PM

CNN anchor Bill Weir went on a mini-Twitter tirade Thursday, crudely slamming a Fox News blog for its post on former Vic . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved