San Bernardino, CA, to File for Bankruptcy
On the heels of Stockton, California filing for bankruptcy on June 28, the San Bernardino City Council authorized the city to file for bankruptcy at its meeting on July 10. San Bernardino is a city of 209,000 residents, and was one of the fastest growing metropolitan areas during the housing boom, as a "suburb" of Los Angeles (it is 60 miles from L.A.).
