David White Stockton, CA filed for bankruptcy Tuesday night (a city of 290,000). Is this the start of the Meredith Whitney muni bond collapse?
6/28/12
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DaLatin: How can 290000 owe so much money ! Plus not as big as Orange County's B/R Giant pension contracts & WAVES to come. Boomers still in trouble
6/28/12
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DaLatin: How can 290000 owe so much money ! Plus not as big as Orange County's B/R Giant pension contracts & WAVES to come. Boomers still in trouble
6/28/12
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NatGasMaverick: Stockton renegotiated increases and retirement benefits for city employees as the property tax dollars were flowing in. tax receipts fell.
6/28/12
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NatGasMaverick: had to issue bonds to fund the gap. prices kept falling.
6/28/12
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DaLatin: " renegotiated " as in politicos wanting continued votes for keeping there jobs ! That renegotiated thingee thing ?
