US city bankruptcy

[BREWSTERS]

http://www.bbc.co.uk/news/world-us-canada-18605326

290k people - about the size of Nottingham

2011 there were 58 murders!!! (Greater Manchester had 35 - population 2.6million).

If they were flush with cash a few years ago, why did they generously increase pensions for the city employees before securing their own (now repossessed) premises?

0.5% of properties have been repossessed - surely mortgage companies would be far better off taking a reduced payback rate temporarily and have some money coming in while having the property lived in and presumably better cared for than being shuttered? Or do they just turn to the government to bail them out?

 

[JMOT]

California was the worlds 5th largest economy.

Wait till the first US state actually declares bankruptcy then wait to see the murder rate...

 

[doodlebug]

How long until money becomes worthless, the whole world is falling apart and it doesn't look like the global economy has enough money to sort it out, all these countries being bailed out and all the others at war.

Money is just false now, no wonder the UK government are cutting right back on benefits although I think giving no housing benefit to under 25s is just unrealistic and unfair, banks can be bailed out but not individuals.