Local Governments Facing Tough Times, Bankruptcy

What do Stockton, San Bernardino and Mammoth Lakes,California have in common?

If you were thinking about warm weather, plenty of sunshine and the California lifestyle, you might be right, but that’s not the answer we’re looking for.

Warm weather and sunshine aside, these three California cities have a black cloud hanging over their financial futures because all three filed bankruptcy in July 2012.

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