LOS ANGELES (Reuters) - The bankrupt California city of San
Bernardino failed to pass an emergency budget plan in the early hours of
Wednesday morning after an acrimonious fight over plans to sack
firefighters.
The city of about 210,000, some 65 miles east of
Los Angeles, filed for bankruptcy on August 1, joining the Bay Area city
of Stockton as a test case for whether financially troubled
municipalities can shed bond payments and possibly pension obligations
via bankruptcy court.
via chicagotribune.com
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