Which Way, L.A.?
Lockyer Blasts Bankruptcy Idea for States
There have been rumors in Washington that some states, including California, are in such bad shape they should be allowed to declare bankruptcy .
By Warren Olney • • 1 min readThere have been rumors in Washington that some states, including California, are in such bad shape they should be allowed to declare bankruptcy. In a national telephone conference call with reporters today, Bill Lockyer, the State Treasure of California, called that a "cynical proposal designed to incite a panic in response to a phony crisis."
