First Vallejo, now Stockton as California municipalities join sister jurisdictions in the South and New England in the bankruptcy club. True trickle down at work here: Once anti-tax zealots gained a stranglehold over federal and state legislatures, the aid spigot for local services such as public safety and education was shut down. And the folks who live in cities such as Stockton don’t have the werewithal to fully fund their schools, cops or firefighters. “It’s on them” say the anti-tax ayatollahs, as if educating kids serves only the locality or crime never spills over to the next town. http://www.nytimes.com/2012/06/28/us/stockton-california-heads-for-bankruptcy-court.html?smid=pl-share
Convicted of looting his businesses and customers of some $7 billion, at sentencing this swash-buckling corporate pirate trotted out a belief also expressed by Enron’s leadership after the mega-firm went belly-up thanks to fraudulent bookkeeping. Namely, things were basically fine, we were operating legally and only collapsed because malevolent prosecutors chose to cast us in such a bad light. R. Allen Stanford gets 110-year sentence for Ponzi scheme – Nation – MiamiHerald.com.
Though this story is about yet another government operation in Pennsylvania that rose from the dead after an elected leader was shown the door, most jurisdictions in the state continue to elect leaders for basic business functions that need professional management but instead get political operatives who can pay little attention to how effectively things run. New team brings Clerk of Court’s office into the 21st century.