8 votes

San Bernardino becomes California's third city in weeks to declare bankruptcy

By Phil Willon, Los Angeles Times
July 10, 2012, 11:17 p.m.
San Bernardino on Tuesday became the third California city in less than a month to seek bankruptcy protection, with officials saying the financial situation had become so dire that it could not cover payroll through the summer.

The unexpected vote came at the suggestion of the interim city manager, who said the city faces a $46-million deficit and depleted coffers.

"We have an immediate cash flow issue," Andrea Miller told the mayor and seven-member City Council.

read more http://www.latimes.com/news/local/la-me-0711-san-bernardino-...

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ah, yes...

http://www.democratsagainstunagenda21.com/the-way-we-see-ito...

clipped from a paragraph of the linked article:
"What they don't tell you is that this decidedly downscale town is ONE BILLION DOLLARS IN DEBT FOR REDEVELOPMENT BONDS. You can probably buy the whole town for less than that. So they were destroyed by the greed, manipulation, and conniving of the Redevelopment Agency. We must remind you that Redevelopment is a funding and implementation arm for UN Agenda 21."

Please read. This is going on in your town too, I'd almost guarantee it.

wasn't SB the first CA city to embrace UN Agenda 21?

I think I read that just the other day.

I would not be surprised if it is under corporate management soon...

Public/Private Partnerships.

One local news report said

One local news report said that they are 46 million in the hole and only had about 150k in the bank??? Yea I would say we have a major cash flow problem...I live in SB. It was also reported that there is suspicion of illegal and negligent accounting practices that have been turned over to proper authorities for a thorough investigation. I don't think we have heard the end of this story....

Ford To City: Drop Dead

For some reason, two things came to mind. First, that old Daily News headline. https://encrypted-tbn0.google.com/images?q=tbn:ANd9GcR528ah9...

Second, the fact that the Democratic Party chose to host its convention in North Carolina. "North Carolina is a right-to-work state and there is no union hotel anywhere in the state. Nevertheless, the Democratic National Committee (no doubt with the President's approval) selected Charlotte as its convention site. More than twelve unions in the building and construction field courageously decided to boycott the event, though others are participating. One organizer remarked "We find it troubling that the party so closely associated with basic human rights would choose a state with the lowest unionization rate in the country."" http://www.mainstreetliberal.com/2012/05/paging-north-caroli...

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

But there was money

for bank bailouts and bonuses to bank CEOs on the tax payer's tab? End the FED and all central banks.

Key Lesson From Iceland Crisis: “Let Banks Fail”!
http://www.ritholtz.com/blog/2011/11/key-lesson-from-iceland...

And the !@#$ing Americans

And the !@#$ing Americans call RON PAUL !@#$ CRAZY.

Excellent!

Let's hope the trend picks up!

When a gov't has no money, it can't be oppressive.
People will learn to rely on themselves and their private resources and companies.
Then they'll realize that they can manage just fine without all that gov't bloat and taxation.

cash flow?

Interesting choice of words imo.

donvino