Earlier this week, we heard that the City of Stockton was into mediation with creditors and public unions, but no agreement was reached in time to avoid bankruptcy. Last night, the City Council adopted what it called "a survival budget," making Stockton the largest American city to seek protection from creditors and unions in US bankruptcy court.
Stockton Files for Bankruptcy: Who's Next?
Credits
Guests:
- Susan Eggman - Stockton City Council - @SusanEggman
- Jeffrey Michael - University of the Pacific