Economy, Bankrupt City | featured news

How a Plan to Help Stockton, Calif., Pay Pensions Backfired

Stockton Police

Jeffrey A. Michael, a finance professor in Stockton, Calif., took a hard look at his city’s bankruptcy this summer and thought he saw a smoking gun: a dubious bond deal that bankers had pushed on Stockton just as the local economy was starting to tank in the spring of 2007, he said.

 

'City with a bright future' files for bankruptcy

The city of Central Falls, Rhode Island — one of a handful of U.S. cities and counties facing fiscal collapse in the wake of the economic recession — has filed for bankruptcy.

 

Muni-Debt Threat: Cities Weigh Chapter 9

The economic slump is forcing debt-laden cities and towns to consider using Chapter 9. The bankruptcy option is causing experts to worry about the safety of municipal debt.

 

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