Greenhut writes: First pensions, and now bankruptcy tsunami

July 12, 2012

By Steven Greenhut

First Vallejo, then Stockton, then Mammoth Lakes and now San Bernardino. As Orange County Supervisor John Moorlach told Bloomberg News, the bankruptcy dominoes are starting to fall. One California city after another — following a decade-long spree of ramping up public-employee pay and pension benefits, as well as redevelopment debt — are becoming insolvent. Click to go to the article on CalWatchDog.com