It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

San Bernardino seeks bankruptcy protection

page: 1
3

log in

join
share:

posted on Jul, 11 2012 @ 10:21 AM
link   
Los Angeles Times
July 10, 2012

San Bernardino seeks bankruptcy protection
 

It looks like another California City has gone bankrupt.

This is one more of several recently to file for "protection"

How many more will come soon enough ?

I wonder how much unnoticed graft, bribery, and corruption caused this one.

Can any residents shed more light on this ?



San Bernardino on Tuesday became the third California city in less than a month to seek bankruptcy protection, with officials saying the financial situation had become so dire that it could not cover payroll through the summer.

The unexpected vote came at the suggestion of the interim city manager, who said the city faces a $46-million deficit and depleted coffers.

"We have an immediate cash flow issue," Andrea Miller told the mayor and seven-member City Council.

Mayor Patrick Morris called the decision, passed on a 4-2 vote, a "stain" on the city. But he said the only other option was "draconian cuts" to all city services, including the police and fire departments.


San Bernardino seeks bankruptcy protection
 




posted on Jul, 11 2012 @ 10:54 AM
link   
will this be the next "bail out"? Cities?
if Cali is Broke, So is the Nation

forget a bout it !!!! Spend damn you!!! Spennnnnnnnnddddddddd!!!

Joblessness due to outsourcing. That is the root of the evil. San Berdu is hit hard with home foreclosures due to mass layoffs and outsourcing/ off shoring. There is little doubt that their City Tax intake isnt cutting the mustard it takes to maintain Commerce and City Infrastructure.

Just like everybody else thay went broke.
I am thinking this is the tip of the iceberg.
edit on 11-7-2012 by rebellender because: (no reason given)



posted on Jul, 11 2012 @ 11:26 AM
link   
Yup. Cali is definitely broke.

San Bernardino was never a good town. I grew up down there in that area. San Berdu was something we only passed through, either on the way to Palm Springs, or when we wanted to go up to Big Bear to go skiing. It was a nasty pit of a town that experienced it's growth spurt in the 60s thanks to nearby military bases and a few businesses.

It's a rough place, and no doubt many of the homes went into foreclosure with this past nationwide debacle. Businesses probably closed up in response. It has a large gang population, but they don't exactly pay taxes.

The dominoes are starting to fall now. I expect to see a lot more of this.



posted on Jul, 11 2012 @ 05:21 PM
link   
reply to post by xuenchen
 


Freakin' liberal states going broke and then getting the fed to bail them out!



posted on Jul, 11 2012 @ 05:29 PM
link   

Originally posted by Evolutionsend
reply to post by xuenchen
 


Freakin' liberal states going broke and then getting the fed to bail them out!

you would think the liberal states would have liberal politicians covering the cans of their constituents



posted on Jul, 11 2012 @ 05:48 PM
link   
reply to post by rebellender
 


Conservative Ohio makes liberal cali look like gold.
Just sayin'!



posted on Jul, 11 2012 @ 05:51 PM
link   

Originally posted by Evolutionsend
reply to post by rebellender
 


Conservative Ohio makes liberal cali look like gold.
Just sayin'!


just ask the people in San Bernardino



posted on Jul, 11 2012 @ 06:05 PM
link   

Originally posted by rebellender
Joblessness due to outsourcing. That is the root of the evil. San Berdu is hit hard with home foreclosures due to mass layoffs and outsourcing/ off shoring. There is little doubt that their City Tax intake isnt cutting the mustard it takes to maintain Commerce and City Infrastructure.


If you mean outsourcing to places like Nevada, Arizona, Texas and North Carolina then I have to agree with you. Between the State government and city governments passing BS laws and jacking up taxes, California has become so business unfriendly, it is no wonder people are leaving. Then when you throw in the expenses of the public sector unions, you get situations like this.



posted on Jul, 11 2012 @ 06:17 PM
link   
reply to post by JIMC5499
 


Majority of American companies in socal farm out manufacturing contracts to Japan. Then they put a nice little sticker on it that says:

[size=-4]designed in USA!



posted on Jul, 11 2012 @ 07:42 PM
link   

Originally posted by Evolutionsend
reply to post by JIMC5499
 


Majority of American companies in socal farm out manufacturing contracts to Japan. Then they put a nice little sticker on it that says:

[size=-4]designed in USA!


It doesnt matter where they outsource to or where they off shore to.

where do we then go, where to?
yah, not their problem.



posted on Jul, 11 2012 @ 07:46 PM
link   
When I grew up, San Bernardino was a boarded up wasteland.

In the 1990's/2000's, before the bubble burst, predatory loans allowed people to move back into that town.

It would like if all of a sudden people moved back to Detroit...oh wait.



posted on Jul, 11 2012 @ 08:32 PM
link   
reply to post by rebellender
 


The fact that there is plenty of relatively cheap labor in socal right now makes it all the more stomach turning. Outsourcing is the fault of all political partys though. Including and largely republicans.



posted on Jul, 11 2012 @ 08:37 PM
link   

Originally posted by Evolutionsend
reply to post by rebellender
 


The fact that there is plenty of relatively cheap labor in socal right now makes it all the more stomach turning. Outsourcing is the fault of all political partys though. Including and largely republicans.


thats what everybody thought until Sam Donaldson was found to use illegal labor on his ranch in Colorado.
Seems a bunch of Dems here in SoCal have under the table house keepers/cleaners ... labor lines and the lot, of which none can speak a lick of english



posted on Jul, 13 2012 @ 08:08 AM
link   
There may in fact be graft, bribery, and corruption !!

Important Topic Updates

July 12, 2012 -- LA Times


Law enforcement officials said Thursday that they have an open criminal investigation regarding allegations of misconduct in the city government of San Bernardino, which announced this week it was going to file for bankruptcy.

The San Bernardino County Sheriff's Department released a statement confirming the probe but released few other details.

"Several months ago at the request of San Bernardino city officials, the San Bernardino County Sheriff’s Department, along with the San Bernardino Police Department and the district attorney’s office began an investigation related to allegations of possible criminal activity within departments of the San Bernardino city government," the statement said. "The investigation is continuing, and details will not be released at this time. Updates will be provided as new information becomes available."

There have been allegations that some financial documents were falsified to hide the seriousness of San Bernardino's financial woes.




San Bernardino bankruptcy: Criminal probe underway




top topics



 
3

log in

join