Tag "bankruptcy"
Back to homepageJudge: Stockton can go belly up
April 2, 2013 By John Seiler It’s official: The city of Stockton is bankrupt. On April 1, U.S. Bankruptcy Judge Christopher Klein ruled that Stockton’s bankruptcy can proceed. “It’s apparent to me the city would not be able to perform
Read MoreReuters bests state media at covering San Bernardino’s collapse
April 1, 2013 By Chris Reed If you had to fashion a nut graph to explain why so many local California governments are in deep fiscal trouble, here’s my nominee for an honest generic overview: Over the past 20 years,
Read MoreStockton bankruptcy judge’s pedigree, history offer hope
March 27, 2013 By Chris Reed The stakes are immense in the four-day trial in Sacramento’s federal bankruptcy court this week. The New York Times frames the issue well: “Wall Street is taking America’s biggest pension fund to court this
Read MoreMore CA cities should declare bankruptcy
March 8, 2013 By John Seiler Last year, three California cities declared bankruptcy: Stockton, San Bernardino and Mammoth Lakes. Atwater nearly did. Mammoth Lakes lost a lawsuit. But for the other cities — as well as for the Vallejo bankruptcy
Read MoreMunicipal Bankruptcy Can Restore Financial Stability
Jan. 17, 2013 By Todd C. Ringstad The threat of bankruptcy still haunts California. State and municipal finances have been improving, yet last year three cities filed for Chapter 9 bankruptcy: Stockton, San Bernardino and Mammoth Lakes. Around the country,
Read MoreBail Calif. out the Detroit way
Dec. 5, 2012 By Katy Grimes California overwhelmingly just voted to re-elect President Barack Obama. Shouldn’t the state get a little somethin-somethin in return? Especially because California is teetering on the verge of becoming a giant Detroit. With three cities already
Read MoreRiordan drops L.A. pension reform
Nov. 27, 2012 By John Seiler It looks like only bankruptcy will bring pension reform to Los Angeles. Former Mayor Richard Riordan just dropped his efforts to put San Jose-San Diego-style pension reform before the city’s voters: “The sudden retreat
Read MoreBankruptcy series: The Road Ahead
Editor’s Note: This is the 11th in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy. Nov. 14, 2012 By Chriss Street Up through September 2011, Wall Street underwriters, bond counsels and other assorted securities industry camp followers were gloating over
Read MoreLos Angeles teeters on the brink of bankruptcy
Editor’s Note: This is the Tenth in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy Nov. 13, 2012 By Brian Calle Taxpayers in Los Angeles are facing a major crisis if Mayor Antonio Villaraigosa and other officials do not begin
Read MoreBankruptcy Series: What are the alternatives to bankruptcy?
Editor’s Note: This is the Ninth in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy. Nov. 12, 2012 By Tori Richards It was 1975 and New York City was running out of cash. Its excessive spending and lack of financial
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