California Dazed and Confused Over Mounting Chapter 9 Filings

California should brace for more municipal Chapter 9 filings as its local governments continue to strain under the weight of national economic burdens and local policies, according to bankruptcy and market experts.  That wave may be more of a splash than the tsunami some doomsayers have predicted, however.  What is pushing municipalities toward bankruptcy now, some observers say, is a complex web of difficult fiscal issues, some of which are specific to the Golden State, that have left the hardest hit and most poorly managed municipalities teetering.

Bond Buyer

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