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01-06-2009, 07:01 PM
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SCR
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Join Date: Apr 2008
2,447 posts, read 1,470,636 times
Reputation: 1203
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Bridgeport To File Bankruptcy???
So what do you think about that little soundbite from Bridgeport Mayor Finch, where he said the city is a couple snowstorms away from being bankrupt? I remember back when Republican Mary Moran was mayor, and she proposed that the city file for bankruptcy. The Bridgeport Democratic machine, along with the state legislature and governor's office, quashed the idea. But, this time around, it's coming out of a Democratic mayor's mouth. So, do you think he's serious? Or, just back on the sauce again, lol.?
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01-06-2009, 07:32 PM
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Real Estate Agent
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Join Date: Oct 2006
Location: Cheshire, Conn.
1,763 posts, read 1,780,517 times
Reputation: 320
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New York City, under Mayor Koch, did the same thing. A few other mayors have been in similar situations. The danger today is states can move in to take over cities' administrative functions.
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01-07-2009, 07:24 AM
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By Grace Alone
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Join Date: Feb 2007
Location: New England
3,642 posts, read 2,875,353 times
Reputation: 1226
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Quote:
Originally Posted by Rich Lee
New York City, under Mayor Koch, did the same thing. A few other mayors have been in similar situations. The danger today is states can move in to take over cities' administrative functions.
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Which isn't always a bad thing. It helped Waterbury tremendously. |
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01-07-2009, 07:56 AM
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Stamforder
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Join Date: May 2007
Location: Stamford, CT
2,118 posts, read 2,242,907 times
Reputation: 724
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For Bridgeport, that could be a good thing if the state took over. Don't you all think? Bridgeport is in such a mess as it stands now--extremely high taxes, strained services, poor upkeep on facilities.
Couldn't the state at least put the city on track?
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01-07-2009, 07:58 AM
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Real Estate Agent
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Join Date: Oct 2006
Location: Cheshire, Conn.
1,763 posts, read 1,780,517 times
Reputation: 320
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It's not necessarily a bad thing, but it does set a precedent. What incentive does any municipality have to balance its budget if it knows that the state (and other taxpayers) will bail it out?
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01-07-2009, 09:50 AM
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Senior Member
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Join Date: Sep 2008
Location: Western Mass
992 posts, read 566,345 times
Reputation: 524
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The same thing is happening in Springfield, MA as well.
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