Re : “Stockton, CA Eligible For Bankruptcy Protection, Judge Rules”:
I’m guessing this is a win for taxpayers who will hopefully not have to pay higher taxes for excessive spending by politicians. Of course, the cost of borrowing will probably also rise.
I guess that leaves college students as the only borrowers not able to write off debt from over-zealous, loan shark lenders. (My parents recently got a used car loan with an interest rate roughly 1/3 the interest rate of our child’s college loan!)
