Bankruptcy talk spreads among Calif. muni officials

Let me see.
Have heard from Moody's, Fitch and the IMF recently on this problem STATE?
Jim

While the world focuses on Europe (Spain, Portugal, Greece, etc.), it ignores the fact that the money tree has clearly died in many municipalities across the United States.

Two years after Vallejo, California, filed for bankruptcy protection, officials in nearby Antioch are also tossing around the 'B' word.

Antioch's leaders earlier this month said bankruptcy could be an option for the cash-strapped city of roughly 100,000 on the eastern fringe of the San Francisco Bay area.

Source: news.yahoo.com