Editor’s Note: This is the Ninth in a CalWatchDog.com Special Series of in-depth articles on municipal bankruptcy. Nov. 12, 2012 By Tori Richards It was 1975 and New York City was running out of cash. Its excessive spending and lack of financial oversight created a $14 billion debt, wit...
Posts Tagged ‘Central Falls’Bankruptcy Series: What are the alternatives to bankruptcy?Monday, November 12th, 2012Special Series: The pros and cons of municipal bankruptcyThursday, April 12th, 2012Editor’s Note: This is the sixth in a CalWatchDog.com Special Series of 12 in-depth articles on municipal bankruptcy. April 12, 2012 By Tori Richards What’s better for a cash-strapped municipality: filing for bankruptcy or struggling to survive without any clear solution to a massive de... Special Series: Local Governments Face Bankruptcy QuandaryFriday, March 16th, 2012Editor’s Note: This is the third in a CalWatchDog.com Special Series of 12 in-depth articles on municipal bankruptcy. MARCH 16, 2012 By JOHN SEILER Bankruptcy is the boogeyman haunting governments across America. It’s not a question of if more cities will file for bankruptcy, but how ma... Special Series: Broke Municipalities Look to Bankruptcy OptionFriday, March 9th, 2012Editor’s Note: This is the second in a CalWatchDog.com Special Series of 12 in-depth articles on municipal bankruptcy. MARCH 9, 2012 By STEVEN GREENHUT Economist Allan Meltzer once quipped that “Capitalism without failure is like religion without sin. It doesn’t work.” Americans hav... R.I. Pension Crisis Casts Shadow on CAWednesday, September 14th, 2011SEPT. 14, 2011 By JOHN SEILER In a case with great importance for California, a Rhode Island pension bankruptcy advanced yesterday in court. At this stage, Superior Court Judge Sarah Taft-Carter ruled in favor of the union. But this is just a preliminiary. The ruling is being appealed. The ... Could CalPERS Be Drained if Cities Default?Tuesday, August 9th, 2011 AUGUST 9, 2011 By WAYNE LUSVARDI Could the California Public Employees Retirement System be a source of money in the event of default on state, city or county general obligation bonds? As impossible as this scenario may sound for California, something like this has just happened in one of t... Market Crash Slams State Pension FundsTuesday, August 9th, 2011 AUGUST 9, 2011 By JOHN SEILER So much for record gains in California state and local pension funds. The stock market crash of the past week worsened the funds' crisis, putting taxpayers further on the hook for funds guaranteed by law. Less than two months ago, CalPERS boasted that its fund... |