Stockton, Calif., to file for bankruptcy
June 27, 2012
Its crazy in Stockton California - Bankruptcy!
City officials say Stockton has run out of options. Stockton's $26 million shortfall if the city files for bankruptcy, as expected, by Friday.
"The average citizen will not put up with this. Their home prices have plummeted, they have no jobs, a lot of people are getting fed up so that they have to resort to crime." said Gregory Pitsch, a 26-year-old unemployed resident who made an unsuccessful run for mayor. "I'm asking you to make the right decision, not destroy the property values in this city, which bankruptcy will do."
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