Third California City (San Bernardino) Files For Bankruptcy

- San Bernardino Is Third California City to Opt for Bankruptcy (Bloomberg, July 11, 2012): San Bernardino’s City Council voted to become the third California city this year to file for bankruptcy, as it struggles with declining tax revenue, growing employee costs and accounting discrepancies in its ledgers. The council voted 4 to 2, with one [...] continue reading the breaking news