Tag "San Bernardino"

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German mag laughs at crumbling CA 6

Jan. 18, 2013 By John Seiler The left-center, establishment magazine Der Spiegel is the Germany’s equivalent of Time magazine. They just delighted in making fun of the decomposition of America, especially in California. After recalling that the uniform hamburger was

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Municipal Bankruptcy Can Restore Financial Stability 9

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,

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San Bernardino may have to pay pensions before police protection 24

Dec. 26, 2012 By Wayne Lusvardi Do pension payments have the first claim to a bankrupt city’s revenues, even over providing essential police and fire protection?  This is the half-trillion-dollar question currently before a Federal bankruptcy court concerning the insolvency

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You and what army are going to make me pay? 21

Dec. 24, 2012 By Chris Reed The city of San Bernardino’s defiance of CalPERS’ demands for payment will be remembered as the first in a very long line of defiant acts from local governments in California as budgets that don’t

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CalPERS seeks to be new California ‘Octopus’ 15

Dec. 17, 2012 By Wayne Lusvardi In 1901, Frank Norris wrote a novel, “The Octopus: A Story of California.” The book became famous for its description of the monopolistic Southern and Pacific Railroad that dominated California a century ago. Fast-forward to

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San Bernardino will try to hammer ‘Nail House’ loans in 2013 8

Dec. 3, 2012 By Wayne Lusvardi What are called “nail houses” in China may be coming to the county of San Bernardino in 2013 by using eminent domain as a bail out from unfunded public pension debts. The photo at

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Little Hoover: More CA city bankruptcies loom 38

Nov. 14, 2012 By Dave Roberts “Are your cities going to make it for five years?” asked Little Hoover Commission Chairman Daniel Hancock at the recent commission hearing on pension and infrastructure financing. “That’s a good question,” responded Dwight Stenbakken, deputy

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Public employee pensions: Some contracts are more sacred than others 32

Third in a series on public pensions. The first is here and the second here. Oct. 5, 2012 By Mark Cabaniss On Wednesday, the city of Atwater declared a fiscal emergency, putting it on the path to become the fourth California city

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Bernanke’s QE3 slamming California economy 29

Sept. 17, 2012 By Wayne Lusvardi Those desperately in search of a cure for cancer will often try apricot pits bought in Mexico, exotic herbs or light therapy treatments. None has been proven to be effective. In an action with

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Moody’s warns of mass Calif. municipal bankruptcies 0

Aug. 18, 2012 By Chriss Street The klaxon horn went off Friday evening for California municipal bondholders when Moody’s Investors Services issued a report stating that the plummeting financial condition of many California counties, cities, school districts and other government

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