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Re: [xmca] Will California become America's first failed state? | World news | The Observer

No way! New York beat California to it in the 1970s. I remember being furloughed, New York City bankrupt. The city taken over politically by a committee of bankers (really!) appointed by the governor. Of course it was not the State in bankruptcy (on a technicality, I think; the state is ultimately responsible for the debts of its cities), but it was sure a failed state by many measures! 

JAY.

Jay Lemke
Professor (Adjunct)
Educational Studies
University of Michigan
Ann Arbor, MI 48109
www.umich.edu/~jaylemke





On Oct 3, 2009, at 8:45 PM, David Preiss wrote:


Thought this may interest the Californian XMCArs,
http://www.guardian.co.uk/world/2009/oct/04/california-failing-state-debt



David Preiss
ddpreiss@me.com
http://web.mac.com/ddpreiss/

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