Friday, October 09, 2009

Is bankruptcy an option for San Diego?

Is bankruptcy an option for San Diego?: "Less than 500 municipalities have declared bankruptcy since Congress allowed it under Chapter 9 of the U.S. Bankruptcy Code in 1934, according to The San Diego Union-Tribune. Whether San Diego chooses to take that route is a decision left to the city’s elected officers, and first they’d have to prove the city can no longer pay the bills necessary to keep it functioning."
San Diego's situation has gotten worse than it was when bankruptcy was first proposed.

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