Article Image
News Link • Economy - Economics USA

San Bernardino, California, files for bankruptcy with over $1 Billion in debts

• Reuters

San Bernardino filed for bankruptcy protection on Wednesday citing more than $1 billion of debts and making it the third California city to seek protection from creditors.

The city of about 210,000 residents 65 miles east of Los Angeles declared a fiscal crisis last month after a report said local government had tapped out its reserves and projected spending would top revenue by $45 million in the fiscal year that began on July 1.


Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


Purse.IO Save on All Amazon Purchases