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BANKRUPT: First Major American City Goes Under

BANKRUPT: First Major American City Goes Under

By Diana Marcum
April 1, 2013, 1:53 p.m.

STOCKTON -- A federal judge ruled Monday that Stockton is eligible for bankruptcy protection, over the objection of creditors who argued the city could come up with more money.

U.S. Bankruptcy Judge Christopher Klein said Stockton can move forward with a plan to reorganize debt. He twice stated that the creditors had acted in bad faith and had refused to pay their share of the costs for negotiations.

Read more: http://www.latimes.com/local/lanow/la-me-ln-stockton-bankrup...

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Cyril's picture

And "San Burning Down", too

And "San Burning Down", too, happens to be in our same collectivist rape victim state :


"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

You have to love how

You have to love how creditors think the government can come up with the debt. You could sell all your citizens into slavery! Or the they spend it, the citizens pay for it mentality.

And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.