Posted on 07/26/2012 6:53:06 AM PDT by SeekAndFind
San Bernardino is the third California city in a month to seek refuge in bankruptcy.
Bankruptcy inflicts such crippling chaos and infamy on a town that most municipalities struggling with debt and deficits will make the hard choices necessary to stay solvent.
Spending three years tied up in bankruptcy court was a near-death experience for Vallejo, which emerged from Chapter 9 last year. Mayor Osby Davis warns, "It takes an enormous toll on everyone. And you have the stigma of being a bankrupt city. How do you come out of being labeled a bankrupt city to one that is a desirable place to live?"
Knowing the cost, why would any city even contemplate such disastrous recourse? Unfortunately for some cities, the factors that push them to the brink are the same ones that will push them over the edge.
That's apparently what happened in San Bernardino, where a combination of dysfunctional politics and disingenuous accounting powered an irreversible downward cycle.
Vallejo, and now Mammoth Lakes, Stockton and San Bernardino and perhaps other cities to come have particular tales of woe. But they all also can illustrate the brutal, no-win perils of distributing a city's financial pain. It can paralyze democracy.
Even if there's no cash, there's always plenty of blame. That guarantees that residents, businesses bondholders, employees and retirees will be pitted against each other in a war in which, as Osby knows, everyone loses.
The only glimmer of hope is outside intervention.
(Excerpt) Read more at latimes.com ...
When we started allowing Politicians to Enslave future generations with massive amounts of Debt that can Never be Paid off, for it is a Mathematical Impossibility. Which brings me to my point, Everybody says that these Union Contracts are Concrete and Solid and cannot be negated in anyway except bankruptcy, but These Contracts in and of themselves are by definition FRAUDULENT. It is a Mathematical Impossibility to fulfill the obligations set forth in Virtually All Public Employee Contracts, not to mention it REQUIRES the INVOLUNTARY SERVITUDE of Future Generations to satisfy the whims of our leaders Today. How can a Contract That is Mathematically Impossible to Fulfill be defined as anything but Fraudulent, especially when you realize that Both Sides of the negotiating table were and are heavily funded and outright owned by one party to the contract???
Every city should file Bankruptcy immediately. We the Taxpayers Do Not Have a seat at the Table we are being required to pay for.
Well, after reading about how San Francisco’s escalators break down because so many people crap on them, I think the cities of California should start a Crap-A-Thon! Charge people $5 to come and take a dump on your city’s escalators! You could have competitions! “BOMBS AWAY!” - $20 to the person who can stand on the escalator rails and hit a target! “STEPS!” - how many steps can you hit with one load? “THE WEE WEE WADE!” - can you miss those puddles walking to the train? “WHAT DID GENE HAVE FOR DINNER?” - CSI (Crap Scene Investigation). All of Massachusetts would come.
I wouldn’t do a damn thing for any of these idiots untill they get rid of the union thugs. No more money down that rat hole!!!
Bike path through the hood......mugging victum ale cart!!!
“How do you come out of being labeled a bankrupt city to one that is a desirable place to live?”
From what I have read, Ole Osby and Co. in Vallejo didn’t really do what was required to make Vallejo a “desirable place to live.” They have only staved off yet another return to bankruptcy court because they “ kissed ass” with their cops and firemen and left in place parts of union contracts which will lead them back into bankruptcy.
Its more of a crackhead highway to the wealthier neighborhoods. I have a friend who lived in a nice neighborhood along the path.
One day a cop pulled in and told him that they had just arrested a guy standing there masturbating while watching my friend’s little girls (6 and 9) rolleblading.
The only glimmer of hope is mass deportation. In some cases, of American citizens... :)
Beautiful!
I grew up in rural Florida on clay roads. You know the kind that washboard up when it’s dry and make small sink holes during the summer rains. Hit one of those on your bike and your lucky your teeth are still in tack. Oh, the horrors! Wouldn’t have changed any of it.
Does the EPA and US Forest Service know that you cut your grass?
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