‘We’ll see some more bankruptcies,’ NLC research director says
Three California cities recently announced that they will seek federal bankruptcy protection, including Stockton, the largest municipal bankruptcy in U.S. history. The cities’ plight highlights fiscal challenges facing many local governments. American City & County spoke to Chris Hoene, research director for the National League of Cities, about how cities are responding to their financial issues. Hoene says bankruptcies may increase but will still be rare among thousands of cities and towns.