Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: pnh102
California needs to declare bankruptcy.

California needs to run out of money, default on state issued bonds and completely lose any bond rating, go through countless civil suits for debt and be liquidated selling off every state asset to satisfy the debt.

This would include selling the University system and all publicly held real estate with perhaps the exception of the historic government buildings and crucial institutions such as the legislature, governor's mansion and supreme court building. Then with a proper reboot, after the ghetto welfare riots, they might be able to elect a proper citizen legislature and stick to the basics.

12 posted on 12/31/2009 4:41:03 PM PST by ROCKLOBSTER (Deathcare...a solution desperately looking for a problem.)
[ Post Reply | Private Reply | To 2 | View Replies ]


To: ROCKLOBSTER

California is sitting on some mighty valuable land, problem is doesn’t the Fedguv own most of it?


17 posted on 12/31/2009 5:06:35 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
[ Post Reply | Private Reply | To 12 | View Replies ]

To: ROCKLOBSTER

Yup, I agree. At least one state needs to experience a catastrophic collapse to wake the nation up. And since Californian’s pride themselves on being the trailblazers, why not them? Only when the system of entitlements collapses upon itself can you even being to build something that makes sense. It has to be bad enough that even the hardcore liberals get the message.


20 posted on 12/31/2009 5:12:54 PM PST by rbg81 (DRAIN THE SWAMP!!)
[ Post Reply | Private Reply | To 12 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson