The city of Stockton, Calif., filed for federal bankruptcy protection Thursday, becoming the largest city in U.S. history to do so.
Some worry it's part of a wave. Six other municipalities have filed for bankruptcy protection this year. That's roughly on track with last year's pace, which saw 13 bankruptcies — the most in two decades.
A wave of municipal bankruptcies could be the country's next big financial crisis, several Wall Street analysts have warned.
Originally published on Fri June 29, 2012 10:41 am
You may already have made a mental note as to where you were when you heard the Supreme Court had upheld the health care law known as Obamacare. It's one of those moments that become touchstones of our memory, personal connections to the history we have witnessed in our lifetimes.
The Supreme Court may not be the source of such moments very often, but when its rulings reach this level of our awareness, they alter the course of our lives.
"Syrian opposition groups that track casualties reported on Friday that the previous day was the deadliest so far this year, and possibly in the entire Syrian uprising, with as many as 190 civilians killed in a 24-hour period," The New York Times is reporting.
"European stocks rallied after policy makers eased repayment rules for Spanish banks, relaxed conditions for possible aid to Italy and unveiled a $149 billion growth plan for the region's economy," Bloomberg News reports this morning. "U.S. index futures and Asian shares also rose."
Pessimism swept over advocates of the Affordable Care Act after oral arguments this spring seemed to go decidedly against the Obama administration. But the Supreme Court's ruling on Thursday — and its decision in another high-profile case this week — suggest oral arguments aren't as predictive of final outcome as some believe.
Though there's been welcome news about progress in fighting the wildfire that has now destroyed about 350 homes in and around Colorado Springs, Colo., there's also the sad news that at least one person has died.
It's 9:45 a.m. Thursday at the headquarters of Health Plan One, a health insurance agency that sells private policies. It's the morning of what is the biggest court decision ever regarding health insurance. Will the court uphold the health-care bill? Will it strike it down?
"Either way is fine with me," says Bill Stapleton, the company's CEO.