San Bernardino Bankrupt. Up Next: Scranton?

The drumbeat of cities filing bankruptcy grows louder: San Bernardino has become the third California city in two weeks to go bust, after Stockton (the biggest U.S. city so far to file) and the small Sierra hamlet of Mammoth Lakes. The L.A. Times reports that San Bernardino's filing is certain to heighten worries about the fiscal solvency of other California towns. But the next bankruptcy might not come from California: Scranton, Pa., is so cash-strapped that on Friday it made an...Full Story
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