Now that cities in California are going bankrupt, can we buy the municipal buildings from the bondholders?
1. Now that cities in California are going bankrupt, can we buy the municipal
buildings from the bondholders?
Vallejo's Bankruptcy `Failure' Scares Cities Into Cutting Costs When Vallejo,
California, filed for bankruptcy in 2008 after failing to win union pay cuts, C
ouncilwoman Stephanie Gomes said officials around the U.S. would have their eyes
trained on the city of 120,000. She was right. The lesson they’ve taken f
rom the two-year- old case, which has cost Vallejo $9.5 million in legal fees an
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