The Conservative Cave

Current Events => General Discussion => Topic started by: Ptarmigan on April 01, 2013, 09:01:18 PM

Title: Stockton bankruptcy can move forward, judge rules
Post by: Ptarmigan on April 01, 2013, 09:01:18 PM
Stockton bankruptcy can move forward, judge rules
http://www.latimes.com/local/lanow/la-me-ln-stockton-bankrupt-20130401,0,7979388.story

First major city to go bankrupt. Is Detroit next?
Title: Re: Stockton bankruptcy can move forward, judge rules
Post by: Wineslob on April 02, 2013, 09:26:49 AM
Quote
The $900 million Stockton owes to the California Public Employees Retirement System to cover pensions is its biggest debt -– as is the case with many cities in California.


They also spent like there was no tomorrow on city projects based on an increase in homeowner taxes. Then the housing bubble burst.  :thatsright:
Title: Re: Stockton bankruptcy can move forward, judge rules
Post by: BlueStateSaint on April 02, 2013, 11:10:44 AM
Quote from: Wineslob on April 02, 2013, 09:26:49 AM

They also spent like there was no tomorrow on city projects based on an increase in homeowner taxes. Then the housing bubble burst.  :thatsright:

When 'tomorrow' comes, it sucks. :loser:
Title: Re: Re: Stockton bankruptcy can move forward, judge rules
Post by: DLR Pyro on April 02, 2013, 11:44:17 AM
Are the politicians who approved the big union pay packages still collecting a paycheck?  If so why?  They failed the public trust and should be made accountable.
Title: Re: Re: Stockton bankruptcy can move forward, judge rules
Post by: Chris_ on April 02, 2013, 11:53:19 AM
Quote from: DLR Pyro on April 02, 2013, 11:44:17 AM
Are the politicians who approved the big union pay packages still collecting a paycheck?  If so why?  They failed the public trust and should be made accountable.
But it's only evil corporations that hand out golden parachutes and obscene bonuses.  </liberal>
Title: Re: Re: Stockton bankruptcy can move forward, judge rules
Post by: Wineslob on April 02, 2013, 12:10:11 PM
Quote from: Chris_ on April 02, 2013, 11:53:19 AM
But it's only evil corporations that hand out golden parachutes and obscene bonuses.  </liberal>


That and the horrible bond holders.  More cities are bound to follow suit. The cascade is gonna be BAD.