Stockton votes to go tits up

Jun 26th, 2012 | By | Category: Courts, Miscellany
Share

The city council of the crime-ridden and gang-infested cesspool that is Stockton voted by 6-1 to go ahead with bankruptcy filing in federal court.  The filing could happen as soon as tomorrow.

City services, such as they are, will mostly continue.  Significant business will tend to shy away, not that they were likely to come here anyway.  Property values may be depressed even further, if that is possible.  The new prison hospital(s) may very well bring a significant boost in local employment and the local housing market, in a year or three.  Retirees are looking at the possibility of paying significantly more for their health benefits, depending on what a federal judge says down the line.  It is within the realm of possibility that current labor contracts will be ashcanned, bond holders will be left holding the bag and vendors will get burned.

Life’s a bitch, and sometimes unfair, and you can’t always get what you want or even deserve.

Political decisions have consequences.  Unwise political decisions can have serious consequences many years after the fact.  There are at least four more cities in the state, none so large, that may go in the same direction within the next year.

Welcome to the jungle.

Ad Nauseum

Comments are closed.