Tag "municipal bankruptcy"

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Pension follies: New Jersey adopts insane San Diego approach

California leads the way when it comes to government pension dysfunction. The first big city to be stricken by pension costs in the U.S. was San Diego, leading to the memorable 2004 New York Times’ description of it as “Enron

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Detroit sets precedent for radical cuts in ‘inviolate’ CA pensions 4

June 17, 2013 By Chris Reed In the sci-fi satire “Robocop,” we were treated to a glimpse of a future Detroit in which mechanized police ran amok. As my colleague John Seiler noted the other day, in modern-day Detroit, we’re

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AB 1692 could halt city bankruptcies 40

April 26, 2012 By Katy Grimes SACRAMENTO — Bankruptcy still haunts California cities six months after Gov. Jerry Brown signed into law AB 506. Written by Assemblyman Bob Wieckowski, D-Fremont, the bill made it more difficult for municipalities to file

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Special Series: Broke Municipalities Look to Bankruptcy Option 72

Editor’s Note: This is the second in a CalWatchDog.com Special Series of 12 in-depth articles on municipal bankruptcy. MARCH 9, 2012 By STEVEN GREENHUT Economist Allan Meltzer once quipped that “Capitalism without failure is like religion without sin. It doesn’t

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