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American Cities Going Bankrupt: Making Sense of the Growing Trend

by
October 10, 2012
Cybersecurity
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“Financial fallout in many US cities following the recession has left a growing number of US cities in economic crisis of their own. With no ability to pay runaway pension promises and even basic salaries, more and more cities are declaring bankruptcy. Bankruptcy, however, is a last resort option that leaves a deep and uninviting scar on its cities for many years to come. Fortunately, the economic condition of the US as a whole is far better than the dire economic conditions of many of her cities.”

Source: OODA Loop – American Cities Going Bankrupt: Making Sense of the Growing Trend