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01-30-2009, 04:09 PM
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Member
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Join Date: Feb 2008
82 posts, read 62,010 times
Reputation: 15
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So what happens if California files Bankruptcy?
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01-30-2009, 04:27 PM
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Senior Member
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Join Date: Jul 2006
Location: Hampton Cove, Huntsville, AL
11,265 posts, read 10,029,286 times
Reputation: 2846
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01-30-2009, 04:35 PM
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Keeping it real..............
Status:
"SoCal to SoFla...."
(set 2 days ago)
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Join Date: Mar 2008
Location: San Diego, Ca
4,056 posts, read 2,544,040 times
Reputation: 1573
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I dunno but part of me wants Ca to have to file bankruptcy b/c our "leaders" are too inept to fix the mess this state has become. They just need to start over again and learn something about fiscal responsibility. I'm tired of band aid approaches, quick fixes, BAILOUTS, etc..that NEVER solve anything in the long run. This state needs a complete overhaul in its govt and maybe bankruptcy is the best thing that could happen to CA for its LONG TERM health.
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01-30-2009, 05:13 PM
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Curmudgeon & Misanthrope
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Join Date: Apr 2008
Location: Los Angeles
1,826 posts, read 1,308,528 times
Reputation: 617
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California won't file for bankruptcy. I don't think that's even possible.
Eventually, and probably rather soon, the Democrats and Republicans will sort it out, deals will be made, and the new budget will be signed.
In the mean time some state services will go dark, some state employees will get reduced wages or temporary layoffs, and the taxpayers will be inconvenienced by the unavailability or postponement of some services or in some cases longer lines.
Oh yeah, and if you're due a state tax refund it will be delayed until the state legislature sorts it out.
My bet is that the heat will be turned up quite a lot beginning next week (Monday, February 2nd) and I expect it will be settled before the end of the month.
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01-30-2009, 05:18 PM
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Senior Member
Status:
"Solar-Man of the Atom"
(set 15 days ago)
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Join Date: Oct 2008
472 posts, read 268,011 times
Reputation: 148
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Quote:
Originally Posted by RockhetHD
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We all get into our old fords and head back to Oklahoma............  |
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01-30-2009, 05:42 PM
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Senior Member
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Join Date: Feb 2008
Location: LA
2,232 posts, read 1,714,528 times
Reputation: 572
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Quote:
Originally Posted by Dean Trails
We all get into our old fords and head back to Oklahoma............ |
steinbeck is rolling over in his grave!  |
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01-30-2009, 05:52 PM
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Senior Member
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Join Date: Jan 2009
Location: Phoenix
725 posts, read 414,565 times
Reputation: 183
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When California declares bankrupty (and they have to do it like Michael Scott on The Office), the Big One will strike and Yuma, Las Vegas and Quartzite will all become highly desired beachfront locales.
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01-30-2009, 06:10 PM
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Senior Member
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Join Date: Oct 2007
406 posts, read 419,043 times
Reputation: 155
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prop 13
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01-30-2009, 06:20 PM
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Senior Member
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Join Date: Apr 2007
Location: Orange County CA
5,387 posts, read 4,742,637 times
Reputation: 2172
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Quote:
Originally Posted by sav858
I dunno but part of me wants Ca to have to file bankruptcy b/c our "leaders" are too inept to fix the mess this state has become. They just need to start over again and learn something about fiscal responsibility. I'm tired of band aid approaches, quick fixes, BAILOUTS, etc..that NEVER solve anything in the long run. This state needs a complete overhaul in its govt and maybe bankruptcy is the best thing that could happen to CA for its LONG TERM health.
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The problem is the people who created the situation will be the last to feel the pain. Taxes will get raised. Anyone owed money by the state will get screwed. The idiots that ran the state into the ground will keep their jobs or just trade jobs around in Sacramento like they always do. They need to spend some time in the pillory for this. |
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02-01-2009, 05:41 PM
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Senior Member
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Join Date: Jan 2009
2,515 posts, read 627,688 times
Reputation: 586
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A state government cannot declare bankruptcy. There is absolulty no provision in law for it.
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