SouthLA

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Compton Contemplating Bankruptcy

Nothing has been set in stone, however Compton’s City Treasurer told the City Council Tuesday Night That the city may need to start considering bankruptcy, or at least discussing the idea.  Compton is looking at $43 million deficit, which seems to be a lot for a city with only 93K residents.  Bankruptcy may be the new thing to do following San Bernardino and a couple other California Cities.  Compton’s mayor is reportedly more optimistic than its financial staff that the city can avoid bankruptcy, but at Tuesday’s City Council meeting, which was broadcast over the Web, the city’s treasurer outlined the financial reality that he and the city are looking at.

Compton Thinking Bankruptcy 

 

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This entry was posted on July 18, 2012 by in Compton, Southla Cities and tagged , , .
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