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Author Topic: Stockton bankruptcy can move forward, judge rules  (Read 1084 times)

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Offline Ptarmigan

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Stockton bankruptcy can move forward, judge rules
« 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?
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Offline Wineslob

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Re: Stockton bankruptcy can move forward, judge rules
« Reply #1 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:
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Offline BlueStateSaint

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Re: Stockton bankruptcy can move forward, judge rules
« Reply #2 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:
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Offline DLR Pyro

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Re: Re: Stockton bankruptcy can move forward, judge rules
« Reply #3 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.
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Offline Chris_

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Re: Re: Stockton bankruptcy can move forward, judge rules
« Reply #4 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>
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Offline Wineslob

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Re: Re: Stockton bankruptcy can move forward, judge rules
« Reply #5 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.
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“The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance.”

        -- Marcus Tullius Cicero, 55 BC (106-43 BC)

The unobtainable is unknown at Zombo.com



"Practice random violence and senseless acts of brutality"

If you want a gender neutral bathroom, go pee in the forest.
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