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Bilifuduo (98.41)

Falling Like Dominoes

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July 04, 2012 – Comments (1)

Yesterday, Mammoth Lakes, a California city, filed for Chapter 9 bankruptcy (reserved for public entities such as cities, counties and special taxing districts) after its largest creditor, Mammoth Lakes Land Acquisition, refused to negotiate a $43M legal judgment against the town. 

This development comes days after another city in California, Stockton, became the largest U.S. municipality to file for Chapter 9 bankruptcy. Of the more than 40 bankruptcies since 1981, at least 10 were filed in the last 4 years alone. 

1 Comments – Post Your Own

#1) On July 05, 2012 at 7:27 PM, Varchild2008 (84.50) wrote:

" Of the more than 40 bankruptcies since 1981, at least 10 were filed in the last 4 years alone. "

Don't worry....4 more years of OUTSOURCING our Offshore Oil Resources to BP and other foreigners while issuing Oil Moratoriums on our own businesses under President Obama is just the right recipe for raising city revenues.

IMHO....California is notorious for shutting down Offshore Oil Drilling Operations, shutting down Farming by not allowing any crop irrigation, and spending tens of billions on a Highspeed Railroad to nowhere.....

OF COURSE the cities are filing for bankruptcy.  No one is allowed to earn a Profit anymore in ObamaTown. 

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