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发帖数: 901 | 1 Where did the money go?
"We're out of money," said Ann Johnson, mayor of Stockton, California. "If
players don't come together and agree to a fix that everyone can agree to,
then we're in big trouble."
Stockton officials are entering a mediation process to renegotiate more than
$700 million in debt and other obligations to avoid bankruptcy. If the city
can't reach an agreement with creditors, it will likely file for Chapter 9
protection, which would make it the largest city in America to declare
bankruptcy.
Stockton has $319 million in debt and $450 million of health insurance and
pension liabilities… And the city is using a new California law, passed in
late 2011, that allows it to attempt mediation before declaring bankruptcy.
Stockton was slammed by the subprime crisis… The city, with a 292,000-
person population, currently has a 19% unemployment rate. |
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