San Bernardino late Tuesday became the third California city in two weeks to declare bankruptcy, sending tremors through city halls across the state and immediately raising the frightening question: Are more bankruptcies to come?
California cities and others throughout the country are asking themselves the same question as they struggle amid a still-ailing economy and bad decisions made in the boom years.
Stockton, a Central Valley city of nearly 300,000, two weeks ago became the largest U.S. city ever to seek refuge in the bankruptcy courts. Mammoth Lakes, a Mono County town of about 8,300, followed suit July 3.
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