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Stockton, Calif., Could Become Nation’s Biggest Municipal Bankruptcy
http://stratrisks.com/geostrat/5120Stockton, Calif. is quite at home on lists of dubious distinctions.
This Northern California city has been variously listed as the city with the second-highest home-foreclosure rate of a major U.S. metropolis, the second-highest violent crime rate in California, and two times the frontrunner of Forbesmagazine’s “America’s Most Miserable Cities.”
Now Stockton is hoping to avoid its next bleak title, that of biggest municipality in U.S. history to enter bankruptcy.
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