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San Bernardino's city council last night voted 4-2, with one abstention, to go into Chapter 9 bankruptcy. Prior to the vote, the city attorney said the city could not pay employees August 15. The city experienced a real estate bust with a high number of foreclosures. Unemployment has been consistently extremely high. Earlier this year, Stockton and Mammoth Lakes filed for bankruptcy.
San Bernardino's city council last night voted 4-2, with one abstention, to go into Chapter 9 bankruptcy. Prior to the vote, the city attorney said the city could not pay employees August 15. The city experienced a real estate bust with a high number of foreclosures. Unemployment has been consistently extremely high. Earlier this year, Stockton and Mammoth Lakes filed for bankruptcy.