California Cities in Fiscal Trouble ‘Conga Line’

October 4th, 2012

Via: CNBC:

Vallejo started it.

Then came Stockton. Mammoth Lakes. San Bernardino. Which California city will go bankrupt next?

“There’s a lot of them lined up in the conga line,” said Marilyn Cohen, CEO of Envision Capital Management.

Up next could be the city of Atwater, where civic leaders will vote Wednesday night on declaring a fiscal emergency. They may even lay off a quarter of the town’s 90-person workforce.

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