We’ve discussed the Stockton, California, municipal bankruptcy. It was brought about by a number of factors, but the highlights are (1) lavish and totally unsustainable public employee pay and benefits, and (2) the recession. Here is a detailed explanation from Vice Mayor Kathy Miller: This sort of disaster may be…
Video: Why Stockton Went Belly Up
Relevance: 56% Posted on: July 14, 2012